Mylan one step closer to acquiring Perrigo

Potters Bar, England-based Mylan N.V. said it received regulatory clearance from the European Commission under the European Union Merger Regulation (EUMR) for its proposed acquisition of Perrigo Company plc, Dublin.

"Today marks yet another important milestone in the process of completing our acquisition of Perrigo and serves as further affirmation of the sound industrial logic of this compelling combination,” said Mylan's Executive Chairman Robert Coury. “We look forward to continuing on this path and completing the transaction in the coming months."

On April 24, Mylan issued a Rule 2.5 announcement (amended on April 29) under the Irish Takeover Rules setting forth its legally-binding commitment to commence an offer directly to the Perrigo shareholders for the entire issued and to be issued share capital of Perrigo. The proposed transaction remains subject to certain conditions and other terms set forth in the formal Rule 2.5 announcement, the company said.