The board of Meda has unanimously recommended shareholders in Meda to accept Mylan’s bid.
The press release also states that the Stena Princess, with 21 percent of the shares, and family Rovati ( the company Fidim) has “certain conditions” accepted the offer.
Including Meda’s net debt, the total value of the bid to about 83.6 billion crowns and the offer price represents a premium of approximately 92 percent over the closing price per February 10 , then on Wednesday when Meda share price closed at 86:05 crowns.
Mylan will pay 80 percent of the shares purchased in cash. For the remainder offered shares of Mylan under certain conditions.
Large shareholders in Meda, Princess and Rovati, has separate agreements with the offeror in which they undertake not to sell shares of Mylan to third parties for some time.
the acceptance period for the Offer is expected to run from 20 May 2016 until 29 July, 2016.
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