Transactions by MYLAN INC (MYL) in the last 6 months

Mylan, Inc. (NasdaqGS:MYL) signed a definitive agreement to acquire Agila Specialties Private Limited from Strides Arcolab Ltd. (BSE:532531) for $1.9 billion in cash on February 27, 2013. The consideration includes $1.6 billion in cash and additional payment of $250 million subject to the satisfaction of certain conditions by Strides. Mylan is not assuming any outstanding debt or acquiring the business's cash as part of the transaction. The transaction is expected to ... be financed from bridge loan and internal sources. Morgan Stanley provided senior unsecured bridge term loan of $1 billion to Mylan for acquisition. Agila Specialties reported sales of $255 million and EBITDA of $86 million for the year ended year ended December 31, 2012. The transaction is subject to regulatory approvals and certain closing conditions. Closing of the transaction is conditioned upon Foreign Investment Promotion Board approval, customary anti-trust approvals and other closing conditions. The transactions are not subject to financing conditions. The transaction has been unanimously approved by Mylan's Board of Directors and by Board of Directors of Strides and Agila Specialties. The transaction is expected to close in the fourth quarter of 2013. Strides will utilize proceeds of sale for retiring debt, providing a pre-tax return of approximately $700 million to $800 million to shareholders and costs related to the satisfaction of contingent conditions. The acquisition is expected to be accretive to Mylan's adjusted diluted earnings per share. Morgan Stanley (NYSE:MS) acted as financial advisor for Mylan, Inc. Marie L. Gibson, Eric L. Cochran, Lorenzo Corte, Tim Sanders, Hal Hicks, Matthew B. Zisk, Erica Schohn, Gary Eaborn and David E. Schwartz of Slaughter and May and Nihar Mody and Gautam Bhatof Platinum Partners acted as legal advisors for Mylan, Inc. Tommy Erdei, Dung Nguyen and Probir Rao of Jefferies International Limited acted as financial advisor for Strides Arcolab Ltd. and Agila Specialties. Jeff Wolfson, Lou Solomon, Vicki Martin-Odette, Eric Williams and Alex Grishman of Haynes and Boone, LLP and Alan Montgomery, Bob Moore, Isaac Zailer, Andre Pretorius, James Sell, Shivani Kabra, Clare Pope, Marc Perkins, Francesca Coli, Tony Roberts, Prakash Kakkad, Harriet Forest, Perminder Gainda, David Coulling, Laura Deacon, Ash von Schwann, Grace Aylward, Kevin O'Connor and Robert Moore of Herbert Smith Freehills and Miguel Tornovsky, Cauê Myanaki and Julia Carnevalli Durigan of Pinheiro Neto Advogados and Anand Desai and Raksha Kothari of DSK Legal acted as legal advisors for Strides Arcolab Ltd. and Agila Specialties. Mahesh Nair and Kaveri Mandanna of Weber Shandwick acted as PR advisors for Strides Arcolab. Marie Gibson, Eric Cochran, Tim Sanders, Lorenzo Corte, Matthew Zisk, Hal Hicks, Erica Schohn, David Schwartz and Paul Doris of Skadden, Arps, Slate, Meagher & Flom, L.L.P. acted as legal advisors for Mylan, Inc. David Wales of Jones Day acted as legal advisor for Strides Arcolab Ltd.
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The Board of Directors of Mylan, Inc. (NasdaqGS:MYL) authorized a share repurchase program on February 27, 2013. Under the plan, the company will repurchase up to $500 million worth of its shares. Repurchases will be made either in the open market or through privately negotiated transactions. The plan does not obligate the company to acquire any particular amount of common stock. The repurchase program is expected to be completed during 2013.

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