ISTA Pharmaceuticals Inc. (ISTA)

[mlkrborn]

ISTA Pharm board reiterates commitment to maximizing shareholder value through strategic review process (ISTA) 7.96 : In response to Valeant's withdrawal of its unsolicited proposal to acquire ISTA, ISTA's Board of Directors reiterated its commitment to maximizing shareholder value and said it will continue its previously announced review of all strategic options available. Vicente Anido Jr., President and Chief Executive Officer of ISTA, said, "ISTA remains committed to reviewing the full range of strategic options that are available to the Company. While we continue to make excellent progress and are pleased with the level of interest generated to date, it will take time to complete a thorough and thoughtful review. We repeatedly offered Valeant the opportunity to participate in our strategic review process on a level playing field with others, but it was clear Valeant was only interested in an approach that would have effectively excluded others. We informed Valeant that there were simply too many other companies that had indicated strong interest in ISTA for us to take that approach."