US Mylan to buy Matrix outstanding shares

Posted on: Fri, 27 Mar 2009 05:10:00 EDT


Symbols: MYL
Mar 27, 2009 (M2 EQUITYBITES via COMTEX) --
MYL | Quote | Chart | News | PowerRating -- US pharmaceutical company Mylan (NASDAQ:MYL) plans to offer INR150
(USD2.97/ EUR2.19) a share for the remaining stake in its Indian
generic-drug maker unit Matrix Laboratories (NSE:MATRIXLABS), The Wall
Street Journal reported on 27 March 2009.

The total sum for the acquisition is seen at up to USD133m.

Currently Mylan owns around 71% in Matrix, and controls over 76% of its
voting rights.

The operation will enhance Mylan's efficiency.

Sector: Pharmaceuticals

Type: Buyout

Financing: Cash

Buyer: Mylan Inc

Target: Matrix Laboratories Ltd

Status: Plans

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For full details on Mylan Inc (MYL) MYL. Mylan Inc (MYL) has Short Term PowerRatings at TradingMarkets. Details on Mylan Inc (MYL) Short Term PowerRatings is available at This Link.

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