EC approves Watson's pending acquisition of Actavis

Watson Pharmaceuticals, Inc. (NYSE: WPI) today announced that the European Commission (EC) has approved the company's pending acquisition of the privately held Actavis Group.

"Approval from the EC represents a significant milestone as we work toward the completion of the combination of Watson and Actavis later this year," said Paul Bisaro, Watson's President and CEO. 

The transaction remains subject to regulatory approval in the United States from the Federal Trade Commission (FTC).  Watson continues to expect the transaction to close in the fourth quarter of 2012.