Actavis Announces Proposed Public Offerings of Ordinary Shares and Mandatory Convertible Preferred Shares in Connection with Pending Acquisition of Allergan

Actavis plc

today announced that it is commencing concurrent offerings totaling $8.4 billion, comprising $4.2 billion of Ordinary Shares and $4.2 billion of Mandatory Convertible Preferred Shares, Series A, each in a separate registered public offering, subject to market and other conditions.  Logo - http://photos.prnewswire.com/prnh/20130124/NY47381LOGO Actavis intends to use the net proceeds from these offerings, together with additional debt financing, including a senior unsecured notes offering and borrowings under unsecured term loan facilities and an unsecured cash bridge loan facility and, if and to the extent all or a portion of the net proceeds from these offerings and/or the notes offerings are not available, an unsecured bridge loan facility, to finance the cash consideration for its previously announced acquisition (the "Allergan Acquisition") of Allergan, Inc. ("Allergan") and certain related transactions and financing expenses.  These offerings are separate public offerings made by means of separate prospectus supplements and are not contingent on each other or upon the consummation of the Allergan Acquisition. If for any reason the Allergan Acquisition does not close, then Actavis expects to use any remaining net proceeds from the offering of Ordinary Shares for general corporate purposes, which may include the