Syda Productions /
11 February 2016Americas

Mylan’s $7bn Meda acquisition moves one step forward

Mylan has proposed to buy Swedish pharmaceutical company Meda in what would be a $7.2 billion deal.

Mylan’s board unanimously approved the offer and Meda’s board has urged its shareholders to also accept the deal.

The largest Meda shareholders, Sweden-based Stena Sessan and Fidim, have already agreed to it.

The acquisition would see Mylan operate in China, Russia and Mexico. It follows Mylan’s failed attempt to acquire Perrigo last year for $26 billion after shareholders rejected the offer.

Robert Coury, Mylan’s executive chairman, said: “Our acquisition of Meda will allow us to accelerate and deliver on the clear and compelling vision and strategy we have continuously communicated to our shareholders, and once again deliver a transaction that will create significant value.”

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