Warner Chilcott confirms takeover approach

Pharmaceutical giant Warner Chilcott, formerly known as Galen, has confirmed it has received an approach for a takeover of the company.

In a statement this morning, the board of directors confirmed they have received an approach from a consortium of private equity houses which may or may not lead to an offer, at an indicative cash price of 800p per share, being made for the entire issued share capital of Warner Chilcott.