Warner Chilcott To Pay $1B In Dividends Instead Of Sale

Law360, New York (August 7, 2012, 11:34 PM EDT) -- Dublin-based pharmaceutical company Warner Chilcott PLC will no longer consider potential buyout offers and will instead pay about $1 billion in special dividends to shareholders, it said Tuesday.

The company announced in a statement that its board of directors, which had previously considered selling itself in an attempt to increase shareholder value, had voted instead to approve a recapitalization transaction, a new dividend policy for regular cash dividends and the renewal of the company's existing share redemption program.

Warner Chilcott plans to take on $600 million...
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