April 30, 2018 / 12:43 PM / 3 months ago

Allergan CEO: large deal would be an unlikely outcome of review

NEW YORK, April 30 (Reuters) - Allergan Plc Chief Executive Brent Saunders said on Monday that while the company is considering large, transformational deals as part of a strategic review, they are a “very low priority and a very unlikely outcome” of the process.

Saunders said in an interview that the five options considered in the drug company’s review are deploying capital to buy back shares, doing divestitures, splitting the company, making acquisitions, or continuing to operate Allergan as is.

He said of all the options breaking up the company would take the longest and be the most disruptive. Still, he said its something the company has to seriously consider if they determine it will create shareholder value over the long term.

Earlier this month, the company confirmed it was considering a bid for rare disease drug maker Shire Plc after Reuters reported on its interest. However, the company put out a second statement hours later stating it did not intend to make an offer. (Reporting by Michael Erman, Editing by Franklin Paul)

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