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United States : MYLAN stakeholders to vote on acquisition bid for PERRIGO
Publish Date : 01-Sep-2015
Shareholders of drugmaker Mylan are slated to vote on Friday on whether to approve a $30-billion-plus hostile acquisition bid for Perrigo and move ahead with a tender offer. Perrigo has turned down the offer as undervaluing the firm.
Mylan said stakeholders also aapproved the issuance of stock to Perrigo investors at the extraordinary general meeting. Mylan started pursuing Perrigo earlier in 2015.
Mylan's Executive Chairman Robert Coury, said,l "Investors, rating agencies, and leading proxy advisory services have noted that the lowered threshold would make any synergy targets more hard to achieve, raise integration and execution risk and add additional downward pressure on Mylans credit rating. We look forward to launching our formal offer directly to Perrigo shareholders in the coming weeks, and we are very confident that they too will support this unique and compelling transaction."
