Drugmaker Mylan to pursue Tel Aviv listing if Perrigo deal succeeds
Thursday, June 25, 2015
Drugmaker Mylan NV's (MYL.O) chief financial officer John Sheehan said on Wednesday the company would like to join the Tel Aviv Stock Exchange (TASE) if it succeeds in buying Perrigo Co (PRGO.N).
Mylan, which has its primary listing in the United States, has offered to acquire Perrigo for $34 billion. This is widely seen as an attempt to protect itself from a bid from Israel's Teva Pharmaceutical Industries (TEVA.TA), the world's biggest generic drugmaker.
Sheehan was in Israel to meet Yossi Beinart, chief executive of the stock exchange.
"Mylan believes that the Israeli market is important to Mylan and the pharmaceutical industry generally and would therefore be pleased to join TASE as one of the largest publicly traded companies following the consummation of the Perrigo acquisition," he said in a statement after the meeting.
Perrigo's shares have been listed on TASE since it acquired Israeli drugmaker Agis Industries in 2005.
TASE is seeking to stem falling trading volumes in recent years. Sheehan's comments could reassure the exchange, which is eager to ensure it does not lose Perrigo, the second-biggest company by market value on the bourse behind Teva.
uk.reuters.com
