Tel Aviv District Court Rules in Favor of Mylan Listing on Tel Aviv Stock Exchange
HERTFORDSHIRE, England and PITTSBURGH, Oct. 28, 2015 /PRNewswire/ -- Mylan N.V. (NASDAQ: MYL) today announced that the Tel Aviv District Court denied an attempt by Perrigo Company plc (NYSE: PRGO; TASE) to prevent Mylan from listing its shares on the Tel Aviv Stock Exchange (TASE).
Mylan's Executive Chairman Robert J. Coury commented, "We are very pleased by the Court's ruling, clearing the way for the TASE to approve our listing and for Perrigo's Israeli shareholders to participate in our highly compelling offer, which would provide them with immediate and significant accretion, 2.3 Mylan shares and $75 in cash for each Perrigo share tendered, as well as a highly attractive multiple. Mylan looks forward to receiving the final approval of the TASE, signaling our strong commitment to Israel and the Israeli market. We look forward to traveling to Israel next week to personally celebrate our new listing and meet directly with Perrigo shareholders to further discuss our attractive offer.
"We are extremely attracted to the innovative R&D and biotech ecosystem and talent pool that exist in Israel, and we are very excited to learn more about the opportunities for Mylan in this dynamic market. Not only will listing Mylan's shares on the TASE maintain liquidity in Israel for the convenience of those Perrigo shareholders in Israel who prefer to trade on the TASE, it also will allow Mylan to access a new shareholder base irrespective of the Perrigo offer."
Mylan is a global pharmaceutical company committed to setting new standards in healthcare. Working together around the world to provide 7 billion people access to high quality medicine, we innovate to satisfy unmet needs; make reliability and service excellence a habit; do what's right, not what's easy; and impact the future through passionate global leadership. We offer a growing portfolio of around 1,400 generic pharmaceuticals and several brand medications. In addition, we offer a wide range of antiretroviral therapies, upon which nearly 50% of HIV/AIDS patients in developing countries depend. We also operate one of the largest active pharmaceutical ingredient manufacturers and currently market products in about 145 countries and territories. Our workforce of approximately 30,000 people is dedicated to creating better health for a better world, one person at a time. Learn more at mylan.com.