Mylan Lowers Acceptance Condition on Perrigo Offer to Greater than 50%

Mylan N.V. MYL today announced that it has formally lowered the acceptance condition for its offer to acquire Perrigo Company plc PRGO from not less than 80% of Perrigo ordinary shares to greater than 50% of Perrigo ordinary shares. As previously announced, on Aug. 6, 2015, Mylan entered Amendment No. 2 to its bridge credit agreement which allows Mylan to lower the acceptance condition to a number of Perrigo ordinary shares representing more than 50% of the voting rights then exercisable at a general meeting of Perrigo without further consent from the lenders. Mylan Executive Chairman Robert J. Coury commented, "Mylan remains fully committed to completing the acquisition of Perrigo and today's action even further demonstrates this commitment. We intend to launch our offer to acquire Perrigo's ordinary shares after we receive the approval of our shareholders at our upcoming extraordinary general meeting, and we look forward to making this combination a reality in the coming months."    On April 24, 2015, Mylan issued a Rule 2.5 announcement (amended on April 29, 2015) under the Irish Takeover Rules setting forth its legally-binding commitment to commence an offer directly to the Perrigo See full press release