Mylan N.V. announced the U.S. Federal Trade Commission ("FTC") has cleared the
company's proposed transaction to acquire Perrigo Company plc subject to Mylan's divestiture of certain products following
the consummation of the offer. The FTC clearance represents the final
regulatory clearance needed by Mylan to close its acquisition of Perrigo
and represents the last remaining condition that needs to be satisfied
for the successful completion of the offer other than the acceptance
condition.
Under the terms of Mylan's offer, Perrigo shareholders will receive $75 in cash and 2.3 Mylan ordinary shares for each Perrigo ordinary share. On September 14, 2015 Mylan officially commenced its formal offer to acquire all outstanding ordinary shares of Perrigo.
The offer is being made in accordance with Mylan's announcement (dated April 24, 2015 and amended on April 29, 2015 and on August 13, 2015)
pursuant to Rule 2.5 of Irish Takeover Rules that set forth Mylan's
legally binding commitment to commence an offer and the Offer to
Exchange / Prospectus (being the offer document for the purposes of the
Irish Takeover Rules) dated September 14, 2015. The offer and withdrawal rights are scheduled to expire at 1:00 P.M. (Irish time)/8:00 A.M. (New York City time) on November 13, 2015,
unless the offer is extended with the consent of the Irish Takeover
Panel. The acceptance condition for the offer requires greater than 50%
of Perrigo ordinary shares to have been tendered into the offer.
