In talks between representatives of Mylan Pharmaceuticals and investment institutions in Israel, Mylan's representatives stated that they were committed to continuing Perrigo Company's (NYSE:PRGO; TASE:PRGO) R&D activity in Israel, if Mylan acquires Perrigo. Mylan said that it regarded Israel as a center for innovation and its R&D in the country as one of Perrigo's assets. RELATED ARTICLES "Teva's Mylan stake a psychological factor" Teva completes acquisition of 4.6% Mylan stake Mylan to list on TASE if Perrigo bid succeeds Abbott Labs supports Mylan's bid for Perrigo Statistics weigh against Teva's Mylan bid succeeding Perrigo's business in Israel does not consist merely of R&D; the company has over 1,000 employees in Israel. Mylan CFO John Sheehan visited Israel last week with additional company representatives. The main purpose of the visit was a meeting with Tel Aviv Stock Exchange (TASE) CEO Yossi Beinart in order to assure shareholders of Mylan's commitment to being listed on the TASE after an acquisition of Perrigo. Sheehan took the opportunity to meet with investment institutions holding Perrigo shares and explain to them the rationale behind an acquisition of Perrigo by Mylan in a cash and shares deal at the current Mylan share price, reflecting a $32.9 billion value for Perrigo. The Perrigo board of directors opposes the deal. Mylan is itself the target of a hostile takover bid by Teva. Published by Globes [online], Israel business news - www.globes-online.com - on June 28, 2015 © Copyright of Globes Publisher Itonut (1983) Ltd. 2015
