Teva Offers To Buy Mylan For $82 a Share In Cash And Stock

Teva Pharmaceuticals Industries Ltd. said Tuesday it is offering to buy Mylan N.V. for $82 a share in cash and stock. Based on the number of outstanding shares as stated on FactSet, the deal is valued at $40.1 billion. Israel-based Teva said the deal would create an "industry-leading company, well positioned to transform the global generics space and create a unique and differentiated business model, leveraging on its significant assets and capabilities in generics and specialty {pharmaceuticals)." The company expects to deal to boost adjusted per-share earnings, starting in the mid-teens in year one and approaching 30% by year three. The company expects to generate $2 billion of annual synergies. Teva shares were up 2.9% in premarket trade, while Mylan was up 8.8%.