Warner Chilcott takeover backed

Shareholders in Northern drug manufacturer Warner Chilcott voted yesterday to back the proposed takeover of the company by an American private equity group.

The deal values the company, formerly known as Galen Holdings, at €2.3 billion.

A court hearing to approve the deal will take place later this month and the company plans to delist from the Dublin and London stock exchanges, as well as New York’s NASDAQ, on January 6.