June 27 (Reuters) - Mayne Pharma Group Ltd (MYX) :
- MYX announces acquisition of US generic product portfolio (MYX)
- Deal for US$652M
- Acquisition price represents less than 6 times projected FY 2017 EBITDA
- Acquired portfolio is expected to contribute sales of US$237M in FY 2017 with
gross margins greater than 50%
- Expected to be very significantly accretive to reported and cash earnings per
share in FY 2017
- Will fund the acquisition via an extension of its existing debt facility
- Says entered into an agreement to acquire 37 approved and 5 FDA filed
products from Teva Pharmaceutical Industries Limited
- Will fund acquisition via fully underwritten A$601M 1-for-1.725 accelerated
non-renounceable entitlement offer and A$287M placement
- Entered into a binding agreement to acquire a portfolio of US generic
products from Teva and Allergan
- Shares offered under entitlement offer will be issued at a price of A$1.28
per new share, representing a 9.2% discount
News: MYX Mayne Pharma acquires US generic product portfolio from Teva and Allergan
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