Three Way Takeover Battle: Mylan to list on TASE if Perrigo bid succeeds

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(L-R) Robert J Coury,   Mylan and Josegh Papa,   Periggo

 

One of the main worries of Tel Aviv Stock Exchange (TASE) leaders recently has been the expected delisting of Perrigo Company (NYSE:PRGO; TASE:PRGO), if and when the company’s acquisition by Mylan Pharmaceuticals is completed.

Perrigo has been listed on the TASE for a decade (since it acquired Israeli company Agis), and it constitutes a considerable part of the Tel Aviv 25 index, in addition to being listed on the New York Stock Exchange. With a $27.6 billion market cap, Perrigo accounts for 9.8% of the index, putting it in third place behind Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) and Bank Leumi (TASE: LUMI).

The acquisition of the company and the delisting of its share are liable to significantly shrink trading volumes on the TASE, which in any case has been rather moribund in recent years…

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GLOBES logo-eng (1) Published by Globes [online], Israel business news – www.globes-online.com

 

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