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Home » TEVA BUYS IVAX IN $7.4 BILLION DEAL
TEVA BUYS IVAX IN $7.4 BILLION DEAL
Teva Pharmaceutical Industries Ltd. agreed to buy Ivax Corp. of the U.S. Monday in a $7.4 billion cash-and-stock deal that will restore the Israeli company's No. 1 position in the market for generic medicines. Teva said it will pay either $26 cash or 0.8741 Teva American Depositary Receipts for each share of Ivax, giving shareholders of the Miami drug maker about a 15% stake in the combined company. The agreement stipulates that no more than half of the total acquisition price be paid in cash.
Wall Street Journal (http://online.wsj.com/article/0,,SB112228460343494771,00.html?mod=health%5Fhome%5Fstories)
KEYWORDS Daily International Pharma Alert
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21Oct