Majority shareholder backing for Mylan acquisition of Perrigo
Netherlands-incorporated Mylan (Nasdaq: MYL) that its shareholders have approved its proposed $33 billion hostile acquisition of Ireland-based Perrigo (NYSE: PRGO) at an extraordinary general meeting of shareholders held today.
The transaction (The Pharma Letter April 29) received the approval of two-thirds of the votes cast at the extraordinary general meeting. In addition, the transaction received support from more than a majority of all outstanding ordinary shares. Mylan now intends to launch a formal offer to Perrigo shareholders in the coming weeks.
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