Warner Chilcott tosses shareholders $1bn and pulls down the for sale sign
This article was originally published in Scrip
Executive Summary
Talks with potential buyers for the Irish speciality pharma company Warner Chilcott have ended without result, the Nasdaq-listed company has announced. Instead, it plans to return cash to shareholders in the form of a $4.00 per share special cash dividend and a share buyback. In April, Warner Chilcott said it was conducting a strategic review of a "broad range of alternatives to enhance shareholder value, including preliminary discussions with potential offerors", after rumours suggested that Bayer may be preparing a $32 per share bid.