U.S. district court denies Perrigo motion for injunction against Mylan acquisition

HERTFORDHIRE, England and PITTSBURGH — A U.S. district court judge has denied a request from Perrigo for an injunction on Mylan’s proposed acquisition of the company. According to Mylan, New York’s Southern District court ruled that they had adequately disclosed the synergies that they hope to achieve from the acquisition. 

 

Currently, Perrigo’s shareholders are mulling an offer tendered directly to them by Mylan. The offer, officially given on Sept. 14 promises 2.3 Mylan ordinary shares and $75 cash for each Perrigo share. 

 

The offer is set to expire at 8 a.m. EST on Nov. 13, unless the Irish Takeover Panel consents to an extension.