Teva Files For HSR Notification Regarding Proposed Mylan Acquisition

(RTTNews) - Israeli drugmaker Teva Pharmaceutical Industries Ltd. (TEVA) said Wednesday that it has filed for premerger notification under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 with the U.S. Department of Justice Antitrust Division and the Federal Trade Commission regarding its proposed acquisition of Mylan N.V. (MYL).

On April 21, Teva proposed to acquire Mylan for $82.00 per Mylan share, with the consideration to be comprised of about 50% cash and 50% stock. Teva's proposal for Mylan implies a total equity value of about $43 billion and an enterprise value of about $50 billion.

Teva said its Board and management team are committed to consummating a deal as soon as possible.

Teva has carefully studied the regulatory aspects of a combination of Teva and Mylan, in conjunction with its advisors. Teva is confident that it would be able to structure a deal that would not contain material impediments to closing and that it can determine and promptly implement divestitures, as necessary, to gain regulatory clearances.

Teva plans to work cooperatively with antitrust authorities and expects that the proposed deal can be completed by year-end 2015.