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Perrigo Co And Elan Corporation plc receive Irish High Court approval for Perrigo's proposed acquisition of Elan


Friday, 13 Dec 2013 07:57am EST 

Perrigo Co and Elan Corporation, plc:Says the Irish High Court has approved Perrigo's pending acquisition of Elan.Says as previously announced, on July 28, Perrigo and Elan entered into a transaction agreement pursuant to which Perrigo agreed to acquire Elan through the formation of a new Irish holding company that has since been renamed Perrigo Company plc (New Perrigo).Says the acquisition of Elan will be effected by a scheme of arrangement under Irish law and, in connection with the acquisition; a subsidiary of New Perrigo will merge with and into Perrigo.Says following the consummation of these transactions, both Perrigo and Elan will be wholly owned subsidiaries of New Perrigo.Says the parties have now obtained all regulatory approvals required to complete the transaction.Says the closing is expected to occur on Dec. 18.Says based thereon, trading of Perrigo shares will continue on the New York Stock Exchange until the end of the day on Dec. 18 and on the Tel Aviv Stock Exchange unti Dec. 19.Says the delisting of Elan ordinary shares from the Irish Stock Exchange and of the Elan American Depositary Shares from the New York Stock Exchange will be effective following the close of trading in those respective markets on Dec. 18.The ordinary shares of New Perrigo are expected to commence trading under the ticker symbol PRGO on the New York Stock Exchange on Dec.19 and on the Tel Aviv Stock Exchange on Dec. 22. 

Company Quote

166.11
1.96 +1.19%
24 Dec 2014