 "Mylan proposes to buy Perrigo in a $29 bn cash & stock deal")
The Pennsylvania (USA) based global generic and specialty pharmaceuticals company Mylan NV has proposed to buy Perrigo Company Plc, an Irish manufacturer of private label over-the-counter pharmaceuticals, for about $29 billion in a cash & stock deal. Under the terms of the non-binding proposal, Perrigo shareholders would receive $205 in a combination of cash and Mylan stock for each Perrigo share.
The deal, if materialises, would led to creation of a diversified pharmaceutical company having an unmatched commercial and operating platform and a unique, one-of-a-kind profile. “The combination of these highly complementary businesses would produce a company with critical mass in specialty brands, generics, over-the-counter (OTC) and nutritional products; a powerful commercial platform with reach across all customer channels; an exceptional high-quality operating platform; and opportunities to generate enhanced growth and deliver significant immediate and long-term value and benefits for shareholders and the other stakeholders of both companies,” said Mylan in a press release.
Robert Coury, executive chairman, Mylan, commented, “This proposal is the culmination of a number of prior discussions between Mylan and Perrigo about the compelling strategic and financial logic of this combination. This combination would result in meaningful immediate and long-term value creation, and our proposal is designed to deliver that value to shareholders and other stakeholders of both companies.”
Combined, Perrigo and Mylan had sales of about $15.3 billion in 2014, according to a Reuters report.
The deal, if materialises, would led to creation of a diversified pharmaceutical company having an unmatched commercial and operating platform and a unique, one-of-a-kind profile. “The combination of these highly complementary businesses would produce a company with critical mass in specialty brands, generics, over-the-counter (OTC) and nutritional products; a powerful commercial platform with reach across all customer channels; an exceptional high-quality operating platform; and opportunities to generate enhanced growth and deliver significant immediate and long-term value and benefits for shareholders and the other stakeholders of both companies,” said Mylan in a press release.
Robert Coury, executive chairman, Mylan, commented, “This proposal is the culmination of a number of prior discussions between Mylan and Perrigo about the compelling strategic and financial logic of this combination. This combination would result in meaningful immediate and long-term value creation, and our proposal is designed to deliver that value to shareholders and other stakeholders of both companies.”
Combined, Perrigo and Mylan had sales of about $15.3 billion in 2014, according to a Reuters report.