<span id="midArticle_start"/> (Reuters) - Generic drugmaker Mylan NV said on Friday it would commence a formal offer to acquire Perrigo Co Plc, three days after Perrigo rejected its unsolicited offer.
<span id="midArticle_0"/>Perrigo shareholders will receive $60 in cash and 2.2 Mylan ordinary shares for each Perrigo ordinary share, Mylan said.
<span id="midArticle_1"/>Perrigo unanimously rejected Mylan's $205 per share offer on Tuesday, saying the bid substantially undervalued the company.
<span id="midArticle_2"/>"Mylan has today begun a legally-binding process under the Irish Takeover Rules to commence its offer for Perrigo ...," Executive Chairman Robert Coury said in a statement on Friday.
<span id="midArticle_3"/>Mylan received an unsolicited $40 billion offer from larger rival Teva Pharmaceutical Industries Ltd on Tuesday.
<span id="midArticle_4"/>(Reporting by Ankur Banerjee in Bengaluru; Editing by Sriraj Kalluvila)
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<span id="midArticle_0"/>Perrigo shareholders will receive $60 in cash and 2.2 Mylan ordinary shares for each Perrigo ordinary share, Mylan said.
<span id="midArticle_1"/>Perrigo unanimously rejected Mylan's $205 per share offer on Tuesday, saying the bid substantially undervalued the company.
<span id="midArticle_2"/>"Mylan has today begun a legally-binding process under the Irish Takeover Rules to commence its offer for Perrigo ...," Executive Chairman Robert Coury said in a statement on Friday.
<span id="midArticle_3"/>Mylan received an unsolicited $40 billion offer from larger rival Teva Pharmaceutical Industries Ltd on Tuesday.
<span id="midArticle_4"/>(Reporting by Ankur Banerjee in Bengaluru; Editing by Sriraj Kalluvila)
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