Mylan Commences Formal Offer For Perrigo - Quick Facts

(RTTNews) - Mylan N.V. (MYL) Monday said it has officially commenced its formal offer to acquire all outstanding ordinary shares of Perrigo Company Plc. (PRGO).

Under the terms of the offer, Perrigo shareholders will receive $75 in cash and 2.3 Mylan ordinary shares for each Perrigo ordinary share.

Perrigo shareholders will own about 40 percent of the combined company upon completion of the transaction.

Mylan's Executive Chairman Robert Coury said, "With the overwhelming support of Mylan shareholders, today we officially are taking our offer directly to the Perrigo shareholders. We are highly confident that the majority of Perrigo shareholders will support this full and compelling offer, particularly in the absence of any competing interest in this asset and the significant uncertainties, execution risk and lengthy timetable associated with Perrigo's standalone strategy."