Perrigo Again Rejects Mylan Offer - Quick Facts

(RTTNews) - Perrigo Company plc (PRGO) announced that it has rejected the revised unsolicited offer from Mylan NV (MYL) to acquire all of the outstanding shares of Perrigo for $75.00 per share in cash and 2.3 Mylan ordinary shares for each ordinary Perrigo share.

Perrigo Board previously concluded that Mylan's unsolicited proposal of April 8th of $205.00 per share significantly undervalued the Company and its future growth prospects and was not in the best interests of Perrigo's shareholders.

Today's announcement from Mylan continues to propose a price lower than the previously rejected proposal. Based on Mylan's unaffected price of $55.31 per share on March 10, 2015, the last day of trading prior to widespread public speculation that Teva was considering an offer for Mylan, the value of the revised Offer is $202.20 per Perrigo share.

Perrigo advised its shareholders not to take any action in relation to the Offer.

Earlier today, Mylan N.V. announced that it increased its offer to acquire the issued and to be issued shares of Perrigo. As per the terms of the increased offer, Perrigo shareholders will receive $75 in cash and 2.3 Mylan ordinary shares for each Perrigo ordinary share. Based on Mylan's closing stock price of $68.36 on April 8, 2015, the first day of market reaction to the initial proposal, the value of today's offer is $232.23 per Perrigo share.