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U.S. Court: Mylan provided adequate disclosures for Perrigo

Staff writer |
Mylan said the U.S. District Court for the Southern District of New York has denied the motion by Perrigo Company for a preliminary injunction concerning Mylan's proposed acquisition of Perrigo.

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The court ruled that Mylan had provided adequate public disclosures regarding the synergies expected to be achieved from the combination.

The court also ruled that Mylan's disclosures regarding its intention to de-list Perrigo from the NYSE and the TASE as soon as practicable following the consummation of the offer were appropriate.

Mylan has previously stated that it expects the combination of Mylan and Perrigo would result in at least $800 million of annual pre-tax operational synergies by the end of year four following the consummation of the offer.

Under the terms of Mylan's offer, Perrigo shareholders will receive $75 in cash and 2.3 Mylan ordinary shares for each Perrigo ordinary share. On September 14, 2015 Mylan officially commenced its formal offer to acquire all outstanding ordinary shares of Perrigo.

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