IVAX shareholders mostly choose stock in Teva merger

By Angela McDaniels

Seattle, Jan. 25 - IVAX Corp. said an "overwhelming" majority of shareholders have elected to receive stock consideration under the company's merger agreement with Teva Pharmaceutical Industries Ltd.

Shareholders had until Tuesday to chose a stock or cash consideration. Shareholders who chose stock will receive 0.8471 of a Teva American Depository Receipt for each share of IVAX common stock.

Shareholders who failed to make an election will receive $26.00 for each share of IVAX common stock.

The merger is scheduled to close on Thursday.

IVAX is a Miami-based pharmaceutical company that develops branded and generic pharmaceuticals and veterinary products.

Teva is based in Jerusalem, Israel, and develops, manufactures and markets original and generic pharmaceuticals and active pharmaceutical ingredients.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.