Allergan Sets Ratio For Pending Spinoff
Shareholders of Allergan Inc. are set to get one share of pending spinoff Advanced Medical Optics Inc. for every 4.5 shares of Allergan they own, the Irvine-based drug maker said last week.
Allergan plans to spin off Advanced Medical Optics, a maker of surgical instruments and contact lens products, on or around June 29.
Each Allergan shareholder of Friday is entitled to the tax-free stock dividend, the company said.
Allergan is spinning off Advanced Medical to focus on its mainstay drug business. The operations set to become Advanced Medical saw sales of $543.1 million last year.
