Mylan will make a formal offer to exchange all outstanding ordinary shares of Perrigo Company on Sept. 14, 2015. Under the terms of the offer, Perrigo shareholders will receive $75 in cash and 2.3 Mylan ordinary shares for each Perrigo ordinary share.
Mylan Executive Chairman Robert J. Coury also sent a letter to Perrigo Chairman and CEO Joseph Papa reiterating Mylan's commitment to the transaction and respect for Perrigo and its employees, re-affirming the compelling value of the Mylan offer to Perrigo shareholders, and outlining to Perrigo shareholders their clear and direct pathway to completion of the transaction.
Coury said, "We are very excited to commence the final step in this transaction and to complete the compelling combination of Mylan and Perrigo. As we have repeatedly stated, we believe this is a highly attractive offer for Perrigo shareholders in terms of the price, multiple being paid, accretion and continued long-term potential for value creation. It also offers Perrigo shareholders a clear pathway to close the transaction. We have long respected Perrigo and believe that Mylan is uniquely positioned to maximize this asset for the benefit of shareholders and all other stakeholders..."
Click here for the full text of the letter delivered to Perrigo by Mylan