Perrigo shareholders approve $8.6b Elan acquisition

On Monday, Perrigo Company (NYSE:PRGO; TASE:PRGO) shareholders approved the company's acquisition of Ireland's Elan Corporation plc (NYSE; LSE; Dublin: ELN) for $8.6 billion. 98% of the eligible shareholders approved the merger.

At the same time, Elan shareholders also approved the company's takeover by Perrigo. 99.5% of the eligible shareholders voted in favor of the deal. Elan said that the closing of the transaction remains subject to the approval of the Irish High Court, which is expected by year end/

"We are pleased with the shareholder approval for this transaction, which establishes a diversified platform to enable future expansion as an integrated company," said Perrigo chairman, president and CEO Joseph Papa. "Moving forward, we will continue to build on our position as an industry-leading global healthcare company with the balance sheet liquidity and operational structure to accelerate our growth."

Published by Globes [online], Israel business news - www.globes-online.com - on November 19, 2013