Barr Pharmaceuticals shareholders say 'yes' to deal with Teva

By Lisa Kerner

Charlotte, N.C., Nov. 21 - Barr Pharmaceuticals, Inc. said its shareholders voted to approve proposals related to the company's acquisition by Teva Pharmaceutical Industries Ltd., paving the way for the transaction to close by the end of the year.

In July, Teva agreed to acquire Barr for $7.46 billion including the assumption of $1.5 billion in net debt.

Each Barr common share will be converted into $39.90 in cash and 0.6272 Teva American Depositary Receipts, it was reported previously.

Teva develops, manufactures and markets generic and human pharmaceuticals as well as active pharmaceutical ingredients. The company is based in Petach Tikva, Israel.

Barr is a Montvale, N.J.-based developer, manufacturer and marketer of generic and proprietary pharmaceuticals.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.