Generic-drug maker Mylan (NASDAQ:MYL) on Wednesday said was bidding $205 a share in cash and stock for Perrigo (NYSE:PRGO).
Perrigo Company plc is an Irish international manufacturer of private label over-the-counter pharmaceuticals, with shares traded on the NYSE and the Tel Aviv Stock Exchange. Perrigo is the only non-Israeli company on the TA-25.
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at [email protected].
Thank you.
The announcement sent both stocks soaring, according to Investors.com, even though Perrigo hadn’t agreed to a deal, and Mylan only indicated the two sides are in talks.
“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, ” Mylan Executive Chairman Robert Coury said in a press release. “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.”
