Meda Shareholders Accept Mylan’s Tender OfferBy
Mylan N.V. reports that its recommended public offer to the shareholders of Meda Aktiebolag, a Swedish pharmaceutical company, to tender all their shares in Meda to Mylan has been accepted by shareholders holding an aggregate of 342,578,694 shares, corresponding to approximately 94% of the total number of outstanding shares and votes in Meda, as of July 29, 2016 as part of Mylan’s $7.2 billion acquisition of Meda.
As all conditions to the offer have been fulfilled, including the condition with respect to the 90% acceptance level, Mylan has declared the offer unconditional and will complete the offer. Settlement in respect of the Meda shares duly tendered by July 29, 2016 is expected to occur on or around Aug. 5, 2016. The offer was initially announced on Feb. 10, 2016. The acceptance period expired on July 29, 2016 and will not be extended. Upon settlement of the offer, Meda will become a controlled subsidiary of Mylan.
Last week, the US Federal Trade Commission cleared the acquisition subject to the divestment of certain products by Mylan.