Published On: Thu, Nov 20th, 2014

Perrigo to raise $900 million in NYSE secondary offering


The company will use the offering to help finance the $4.5 billion acquisition of Omega Pharma.

Joseph C. Papa - PERRIGO - PR

OTC pharmaceutical company Perrigo Company (NYSE:PRGO; TASE:PRGO) has filed a prospectus with the US Securities and Exchange Commission (SEC) to raise $900 million in a secondary offering on Wall Street. The funds will be used to help acquire Belgian OTC manufacturer Omega Pharma for $4.5 billion, which Perrigo announced earlier this month.

At the current price of Perrigo’s share, the offering represents a 4.5% stake in the company. Perrigo had cash reserves of $862 million at the end of the last quarter. The company, managed by President and CEO Joseph Papa, has a market cap of $21.3 billion.

Published by Globes [online], Israel business news – www.globes-online.com

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