Pharmaceuticals News: Watson to acquire Arrow Group for $1.75 billion

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Pharmaceuticals News: Watson to acquire Arrow Group for $1.75 billion

Friday, July 3, 2009 at 01:10PM

BOSTON (MarketWatch) -- Watson Pharmaceuticals Inc. said Wednesday that it's agreed to acquire rival generic drugmaker Arrow Group for $1.75 billion in stock and cash, as part of an effort to expand its global reach and enter the generic biologics business.

Under the terms of the deal, Watson(WPI33.18,0.00,0.00%)will pay shareholders of privately held Arrow $1.05 billion in cash, plus 16.9 million shares of Watson common stock valued at about $500 million. An additional $200 million will be paid in the form of zero-coupon preferred stock, redeemable three years after the deal's completed. Read More>>

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