Friday 23 March 2018

King could net €9m payout

PHARMA magnate Dr John King could net a €9m payout as Warner Chilcott, the drugs company he chairs, prepares to pay a €1.6bn special dividend to its shareholders.

Warner Chilcott, which was formed from the late Allen McClay’s Galen company, is raising money on the markets to pay this special dividend.

Shareholders in Warner Chilcott may receive $8.50 per share, with King holding over 1.3m shares.

The Nasdaq-listed company has agreed to establish its global headquarters in Dundalk following moves by the IDA.

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