UPDATE: Tel Aviv District Court Rules in Favor of Mylan Listing on Tel Aviv Stock Exchange
Mylan N.V. (NASDAQ: MYL) today announced that the Tel Aviv District Court denied an attempt by Perrigo Company plc (NYSE: PRGO; TASE) to prevent Mylan from listing its shares on the Tel Aviv Stock Exchange (TASE).
Mylan's Executive Chairman Robert J. Coury commented, "We are very pleased by the Court's ruling, clearing the way for the TASE to approve our listing and for Perrigo's Israeli shareholders to participate in our highly compelling offer, which would provide them with immediate and significant accretion, 2.3 Mylan shares and $75 in cash for each Perrigo share tendered, as well as a highly attractive multiple. Mylan looks forward to receiving the final approval of the TASE, signaling our strong commitment to Israel and the Israeli market. We look forward to traveling to Israel next week to personally celebrate our new listing and meet directly with Perrigo shareholders to further discuss our attractive offer.
"We are extremely attracted to the innovative R&D and biotech ecosystem and talent pool that exist in Israel, and we are very excited to learn more about the opportunities for Mylan in this dynamic market. Not only will listing Mylan's shares on the TASE