Perrigo Will Buy Assets of Sergeant's Pet Care Products for $285M, Sees Deal Adding $0.20 to EPS in First FY
Perrigo Company (Nasdaq: PRGO) (NASDAQ: TASE) today announced that it has signed a definitive agreement to acquire substantially all of the assets of Sergeant's Pet Care Products, Inc. (Sergeant's), a privately-held, Omaha, Nebraska-based manufacturer of OTC companion animal healthcare products, for approximately $285 million in cash. Perrigo expects to receive a significant tax benefit as a result of the acquisition of Sergeant's assets. The net present value of this tax benefit is estimated to be approximately $50 million. The acquisition is expected to close during the Company's fiscal 2013 second quarter pending the satisfaction of closing conditions, including regulatory approvals.
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