Mylan prices public offerings

US drugmaker Mylan has priced concurrent public offerings pursuant to a shelf registration statement previously filed with the Securities and Exchange Commission. Its offer of 1.86 million shares of 6.50% mandatory convertible stock has been valued at $1,000 per share, while the 53.5 million shares of common stock offered have been priced at $14.0 per share. The firm hopes to raise proceeds of $2.5 billion, which it will use to repay a portion of the bridging loans borrowed to finance its acquisition of the generics business of Germany's Merck KGaA (Marketletter May 21).