Allergan Confirms Talks On Potential Combination With Pfizer - Quick Facts

(RTTNews) - Responding to media report, Allergan plc (AGN) confirmed Thursday that it has been approached by Pfizer Inc. (PFE) and is in preliminary friendly discussions regarding a potential business combination transaction. The shares of both companies are halted.

Allergan stated that no agreement has been reached and there can be no certainty that these discussions will lead to a transaction, or as to the terms on which a transaction, if any, might be agreed. Allergan said that it will not comment on speculation regarding the terms of a potential transaction.A further announcement will be made when appropriate.

Under any potential scenario with Pfizer, Allergan said it remains strongly committed to complete the proposed divestment of its global generics business to Teva Pharmaceutical Industries Ltd and expects the generics divestiture transaction to close in the first quarter of 2016.

On Wednesday, the Wall Street Journal reported that rug makers Pfizer and Allergan plc. were considering a merger. The process was at an early stage and may not lead to an agreement.