Mylan Issues Statement On Abbott's Support For Perrigo Transaction

(RTTNews) - Mylan N.V. (MYL) issued a statement regarding Abbott Laboratories' (ABT) announced intention to support Mylan's offer to acquire Perrigo Company plc (PRGO) and vote in favor of this acquisition at Mylan's upcoming shareholder meeting.

Mylan said that it is grateful for Abbott's support of its long-term vision, which Mylan firmly believe will continue to deliver strong near-term and long-term returns in this rapidly evolving industry and will promote the sustainable success of Mylan's business.

Abbott is currently Mylan's largest shareholder, owning 14.5% of Mylan's outstanding shares, and is an important long-term stakeholder of Mylan through various manufacturing partnerships.

Mylan Executive Chairman Robert Coury said, "We are very pleased that, while Abbott is under no obligation to do so, Abbott has voluntarily chosen to express its support of Mylan, our strategic growth plan and stand-alone strategy, and our proposed combination with Perrigo. When we acquired Abbott's non-U.S. developed markets specialty and branded generics business earlier this year, we gained an important stakeholder in Abbott, which understands the powerful potential of our platform, and the critical importance of our scale and breadth across our distribution channels."