Actavis, Forest Laboratories Shareholders Approve Merger

(RTTNews) - Shareholders of Actavis plc (ACT) and Forest Laboratories Inc. (FRX) Tuesday approved their merger, the two companies said.

Actavis' and Forest's shareholder approvals satisfy certain conditions to the closing of the transaction. The deal now requires certain regulatory approvals and other customary closing conditions, and is expected to occur at mid-year.

In February, specialty pharmaceutical company Actavis agreed to buy rival drug maker Forest Laboratories for about $25 billion in cash and stock. The deal is expected to create a specialty pharmaceutical company with combined annual revenues of over $15 billion targeted for 2015.