Teva to Raise $7 Billion Share Sale for Allergan Buy

Oct 21, 2015

Bloomberg Business

Teva Pharmaceutical Industries is planning to raise up to $7 billion by selling new stock this year to help fund its purchase of Allergan Plc’s generic drug business, according to an article in Bloomberg Business.

Teva has asked four banks to underwrite the share sale, which may be launched in November, two unnamed sources said in the story.

Teva ended its hostile bid for Mylan NV in July, and agreed to buy Allergan’s generic-drug business for $40.5 billion in cash and stock.

Read the Bloomberg article

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