Pfizer Confirms Preliminary Merger Talks With Allergan - Quick Facts

(RTTNews) - Pfizer (PFE) confirmed that it is in preliminary friendly discussions with Allergan (AGN) in relation to a potential transaction.

Pfizer emphasizes 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.

Pfizer stated that it will not comment on speculation regarding the terms of a potential transaction. Any further announcement will be made if and when appropriate.

Earlier today, Allergan plc confirmed that it has been approached by Pfizer Inc.and is in preliminary friendly discussions regarding a potential business combination transaction. 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.

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 Pfizer and Allergan were considering a merger. The process was at an early stage and may not lead to an agreement.