POST Online Media Lite Edition


Teva willing to give $31 billion for Mylan

Staff writer |
Teva Pharmaceutical Industries Ltd. announced a proposal to acquire all of the outstanding shares of Mylan N.V. in a transaction valued at $82 per Mylan share.

Article continues below

The consideration is to be comprised of approximately 50 percent cash and 50 percent stock. The Teva cash and stock proposal provides Mylan stockholders with a substantial premium and immediate cash value, as well as significant potential for future value creation through participation in a financially and commercially stronger company.

Teva's proposal also provides Mylan stockholders with a more attractive alternative to Mylan's proposed acquisition of Perrigo Company plc, as announced on April 8, 2015, as well as to Mylan on a standalone basis.

Teva's proposal would provide Mylan stockholders with consideration representing a 37.7% premium to the stock price of Mylan on April 7, 2015, which is the last day of trading prior to Mylan's press release regarding its unsolicited proposal for Perrigo, and a 48.3% premium to the unaffected stock price of Mylan on March 10, 2015, which is the last day of trading prior to widespread speculation of a transaction between Teva and Mylan.

The proposed combination of Teva and Mylan would create a leading company in the pharmaceutical industry, well positioned to transform the global generics space.

What to read next

Teva Pharma completes Actavis Generics acquisition
Teva sees close of $40.5 billion Allergan generics deal by June
Mylan wants to block Teva, Teva wants to block Mylan