Mylan To Launch Offer For Perrigo Directly To Perrigo Shareholders On Sept. 14

(RTTNews) - Mylan N.V. (MYL) announced that it plans to commence on September 14, 2015 its formal offer to exchange all outstanding ordinary shares of Perrigo Company plc (PRGO).

As per the terms of the offer, Perrigo shareholders will receive $75 in cash and 2.3 Mylan ordinary shares for each Perrigo ordinary share.

Mylan noted that it will close the offer on November 13th when at least a majority of the Perrigo shareholders will choose the compelling Mylan offer for Perrigo. The Perrigo shareholders will be given immediate value in cash of $75, as well as the long-term upside that will come with their ownership of approximately 40% in the combined company.

Mylan stated that its Executive Chairman Robert Coury also sent a letter to Perrigo Chairman and Chief Executive Officer Joseph Papa reiterating Mylan's commitment to the transaction and respect for Perrigo and its employees, re-affirming the compelling value of the Mylan offer to Perrigo shareholders, and outlining to Perrigo shareholders their clear and direct pathway to completion of the transaction.

This letter follows Mylan's Extraordinary General Meeting on August 28th, at which Mylan shareholders voted overwhelmingly in favor of the transaction.