US Mylan to buy Matrix outstanding shares
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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