Mylan Offers To Buy Perrigo For $205 A Share

(RTTNews) - Mylan N.V. (MYL) Wednesday proposed to buy Perrigo Company plc (PRGO) for $205 a share in a cash-and-stock deal.

According to Mylan, Perrigo shareholders would receive $205 in a combination of cash and Mylan stock for each Perrigo share, which represents a greater than 25 percent premium to the Perrigo trading price as of April 3.

Mylan's Executive Chairman Robert Coury said, "This proposal is the culmination of a number of prior discussions between Mylan and Perrigo about the compelling strategic and financial logic of this combination. This combination would result in meaningful immediate and long-term value creation, and our proposal is designed to deliver that value to shareholders and other stakeholders of both companies."