Mylan acquires Meda AB for $9.9 billion

Mylan N.V. a leading global pharmaceutical company announced a recommended public offer to the shareholders of Meda Aktiebolag to tender all their shares in Meda to Mylan. The total Offer consideration consists of a combination of cash and Mylan ordinary shares with a value at announcement of SEK 165 per Meda share. The total value of the Offer for all Meda shares, including Meda net debt, is approximately SEK 83.6 billion or $ 9.9 billion, which represents a multiple of approximately 8.9x 2015 adjusted EBITDA with synergies. The combination of Mylan and Meda will create a diversified global pharmaceutical leader with an expansive portfolio of branded and generic medicines and a strong and growing portfolio of over-the-counter (OTC) products. The combined company will have a balanced global footprint with significant scale in key geographic markets, particularly the U.S. and Europe. The acquisition of Meda also provides Mylan with entry into a number of new and attractive emerging markets, including China, Southeast Asia, Russia, the Middle East and Mexico, complemented by Mylan's presence in India, Brazil and Africa. Mylan and Meda have a highly complementary therapeutic presence, which will create a leading global player in respiratory / allergy, and achieve critical mass in dermatology and pain, offering greater opportunities for growth in these categories.