Watson Pharmaceuticals and Arrow Group Receive FTC Second Request

Watson Pharmaceuticals has received a request for additional information from the Federal Trade Commission (FTC) in connection with the company's pending acquisition of privately held Arrow Group.

The information request was issued under notification requirements of the Hart.Scott.Rodino Antitrust Improvements Act of 1976, as amended (HSR Act).

The effect of the second request is to extend the waiting period imposed by the HSR Act until 30 days after the companies have substantially complied with the request, unless that period is extended voluntarily by the parties or terminated sooner by the FTC.

Watson intends to cooperate fully with the FTC's review and continues to expect the transaction to close in the second half of 2009.