Navigation Links
Mylan Announces Successful Matrix Delisting Offer
Date:5/31/2009

PITTSBURGH, June 1 /PRNewswire-FirstCall/ -- Mylan Inc. (Nasdaq: MYL) today announced that its wholly-owned subsidiary, MP Laboratories (Mauritius) Ltd, has completed its delisting offer for the publicly held shares of Matrix Laboratories Limited, the world's third largest active pharmaceutical ingredient manufacturer in which Mylan acquired a controlling interest in 2007.

Mylan has accepted the discovered price of 211 rupees per share, which was established by the reverse book building process prescribed by Indian regulations. Because a substantial number of shares were tendered at or below the discovered price, Matrix's public shareholding will fall below 8%, and, consequently, the company can be delisted from the Indian stock exchanges.

Mylan Chairman and CEO Robert J. Coury stated: "I am very pleased with this positive development in the Matrix delisting process. Not only is the transaction immediately accretive to Mylan, it enhances the ease of operations between the companies and increases operational efficiencies."

Mylan will initiate steps to delist Matrix from the Indian stock exchanges, after which Matrix will become a privately-held subsidiary.

Minority shareholders who did not tender their shares in the delisting offer will have an opportunity to tender at the discovered price within a 15 day period after final settlement of the shares tendered in the reverse book building process as well as during a six month period following the delisting.

This press release contains statements that constitute "forward-looking statements," including with regard to the delisting, the anticipated impact of the transaction on earnings and the company's expectations for the future. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Because such statements inherently involve risks and uncertainties, actual future results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to: unexpected regulatory or legal challenges; changes in laws or regulations in India; changes in economic and financial conditions affecting the company's business; uncertainties and matters beyond the control of management; and the other risks detailed in the company's Form 10-Q for the quarter ended March 31, 2009, and its other reports filed with the Securities and Exchange Commission. The company undertakes no obligation to update these statements for revisions or changes after the date of this release.

Mylan Inc., which provides products to customers in more than 140 countries and territories, ranks among the leading diversified generics and specialty pharmaceutical companies in the world. The company maintains one of the industry's broadest - and highest quality - product portfolios, supported by a robust product pipeline; owns a controlling interest in the world's third largest active pharmaceutical ingredient manufacturer; and operates a specialty business focused on respiratory and allergy therapies. For more information, please visit www.mylan.com.


'/>"/>
SOURCE Mylan Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Mylan Commences Tender Offers and Consent Solicitations for Its 5.750% Senior Notes Due 2010 and 6.375% Senior Notes Due 2015 in Connection With Its Proposed Acquisition of Mercks Generic Pharmaceutical Business
2. Mylan Announces Final FDA Approval for Carvedilol Tablets
3. Mylan Announces Tentative FDA Approval for Topiramate Capsules
4. Mylan Announces Appointment of M. Fabiana Lacerca as Senior Vice President and Chief Compliance Officer
5. Mylan Announces Extension of Tender Offers for Its 5.750% Senior Notes due 2010 and 6.375% Senior Notes due 2015
6. Mylan Announces Appointment of David A. Lillback as Senior Vice President and Global Head of Human Resources
7. Mylan Announces Appointment of Brian Byala as Senior Vice President and Treasurer
8. Mylan Announces Appointment of Didier Barret as President, Europe, Middle East and Africa
9. Mylan Announces Appointment of Harry A. Korman as President, North America
10. Mylan Announces Appointment of John Montgomery as President, Asia Pacific
11. Mylan Announces Management of Specialty Business, Dey L.P.
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/13/2017)... ... 2017 , ... Apple Rehab Shelton Lakes , which specializes in the ... facility as part of a disaster drill on October 3rd. , Apple Rehab participated ... Emergency Manager, as well as the Connecticut Long Term Care Mutual Aid Plan ...
(Date:10/13/2017)... ... ... The Visiting Nurse Association (VNA) of Somerset Hills is proud to host ... items from across the nation, this holiday-themed event will raise funds and awareness for ... The boutique will be open Saturday, November 4 (10:00 a.m. – 5:00 p.m.) ...
(Date:10/13/2017)... ... October 13, 2017 , ... Global Healthcare Management’s 4th Annual Kids ... Milford, NJ. This free event, sponsored by Global Healthcare Management’s CEO, Jon Letko, ... run is geared towards children of all ages; it is a non-competitive, non-timed event, ...
(Date:10/13/2017)... ... October 13, 2017 , ... Talented host, actor ... on sciatica in a new episode of "Success Files," which is an award-winning ... innovation and investigates each subject in-depth with passion and integrity. , Sciatica occurs ...
(Date:10/13/2017)... ... ... “The Journey: From the Mountains to the Mission Field”: the story of ... Philippines. “The Journey: From the Mountains to the Mission Field” is the creation of ... taught all ages and currently teaches a class of ladies at her church, which ...
Breaking Medicine News(10 mins):
(Date:9/13/2017)... OrthoAtlanta has been named the official orthopedic and sports ... the 2018 College Football Playoff (CFP) National Championship to be ... Atlanta, Georgia . OrthoAtlanta is proud to ... in many activities leading up to, and including the national ... OrthoAtlanta ...
(Date:9/12/2017)... -- Consumer reviews on the independent review site Consumer Affairs ... for hearing aids, ranking it higher than Miracle Ear ™, ... ... Hearing Aids ... store that provides high performance, state-of-the-art, German-engineered hearing aids directly to ...
(Date:9/9/2017)... 8, 2017 ... Unit coming to Washington DC ... When: Tuesday, September 12 th – Monday, September 18 th .The ... free MRI brain scans to the public.Where:  BTF,s ... at 501 K Street NW, Washington, D.C.What:BTF brings its nationwide initiative, the ...
Breaking Medicine Technology: