Mylan gets FTC’s OK for Perrigo deal

PITTSBURGH — Mylan has cleared another hurdle in its ongoing attempt to acquire Perrigo, announcing Tuesday that the Federal Trade Commission had given the deal its OK, as long as Mylan divests itself of some products following the acquisition’s completion. 

 

With the completion of this step — and the recent U.S. court decision not to issue an injunction on behalf of Perrigo against Mylan — all Mylan needs is word from Perrigo’s shareholders on whether or not they will accept the company’s $27 billion acquisition offer, which was tendered on Sept. 14. 

 

“We are delighted to have received FTC clearance, making our offer for Perrigo now unconditional other than the one final step, which now rests solely in the hands of Perrigo shareholders,” Mylan’s chairman Robert Coury said. “We are very confident that Perrigo shareholders will support this transaction.”

 

The offer sent to shareholders offers them $75 and 2.3 Mylan ordinary shares for each Perrigo ordinary share. The offer expires on Nov. 13 at 8 a.m. EST, by which time more than half of Perrigo’s shareholders must tender their shares to Mylan.