FTC Seeks More Details On Teva's $6.8B Cephalon Buy

Law360, New York (June 14, 2011, 1:42 PM EDT) -- The U.S. Federal Trade Commission has asked for more information on Teva Pharmaceutical Industries Ltd.'s plan to buy Cephalon Inc. for $6.8 billion, the companies said Monday.

Both companies have received second requests for information from the regulator about the transaction, which won the approval of Cephalon's board in early May shortly after the company unanimously rejected a $5.7 billion unsolicited takeover bid by Valeant Pharmaceuticals International Inc.

Teva and Cephalon have been working with the agency's staff since announcing the transaction and plan to continue...
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