Teva Pharmaceutical Industries Ltd has acquired Barr Pharmaceuticals, Inc. (Barr), the fourth largest generic drug company worldwide for a total consideration of $7.46 billion.
Under the terms of the agreement, each share of Barr common stock will be converted into $39.90 in cash and 0.6272 Teva ADRs. Teva expects the transaction to close in late 2008 and to become accretive to GAAP earnings in the fourth quarter after closing. This purchase price represents a premium of 32 per cent to Barr's average daily closing price on the New York Stock Exchange for the 52-week period ending on July 16, 2008, and 42 per cent to the closing price on July 16, 2008.
The details can be read here.
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