Teva Pharma (TEVA) Completes Acquisition of 4.6% Mylan (MYL) Stake

June 19, 2015 8:35 AM EDT

Teva Pharma (NYSE: TEVA) announced that it has completed the purchase of 4.61 percent of all outstanding shares of Mylan N.V. (Nasdaq: MYL), which will enable Teva to commence proceedings before the Dutch Enterprise Chamber, should it become necessary.

Teva has advised Stichting Preferred Shares Mylan that if the Mylan Extraordinary General Meeting (“EGM”) on the Perrigo transaction is held no later than August 31, 2015, Teva will limit its aggregate shareholding in Mylan prior to the EGM to less than 5 percent of the outstanding shares of Mylan.

Barclays and Greenhill & Co. are serving as financial advisors to Teva. Sullivan & Cromwell LLP is serving as legal counsel to Teva, with De Brauw Blackstone Westbroek N.V. acting as legal advisor in the Netherlands.

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