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US/ Israel: Teva ready for regulatory nod for Mylan buy

By  |  May 6, 2015

Generic drugmaker Teva Pharmaceutical Industries Ltd said it could “promptly” divest some operations to obtain regulatory clearance for its proposed $40 billion takeover of smaller rival Mylan NV.

Teva Pharmaceuticals stated on Tuesday that the regulatory approval for a possible merger with Mylan NV can be expected in as little as four months.

As previously announced on April 21, 2015, Teva has proposed to acquire Mylan for $82.00 per share, with the consideration to be comprised of approximately 50 percent cash and 50 percent stock. Teva’s proposal for Mylan implies a total equity value of approximately $43 billion.

Teva’s proposal is contingent on Mylan not completing its proposed acquisition of Perrigo or any alternative transactions.

 

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