The three-way skirmish in the generic drug industry continued Friday with Mylan N.V. making a formal offer for Perrigo Co. plc valued at about $33 billion in cash and stock as Teva renewed its offer to acquire Mylan.
Under terms of Mylan’s offer, Perrigo shareholders would receive $60 in cash plus 2.2 ordinary shares of Mylan for each of Perrigo’s 140.79 million shares. If the offer is accepted, Mylan shareholders would own about 61.8 percent of Mylan’s shares and former Perrigo shareholders would own about 38.2 percent of Mylan’s shares on a fully diluted basis.
At the same time, Teva on Friday issued a statement, saying its board and management team remained “fully committed to completing” its acquisition of Mylan for $82 per share, with a value of about $50 billion.
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