DUBLIN, Nov. 20, 2014 /PRNewswire/ -- Perrigo
Company plc ("Perrigo") (NYSE: PRGO; TASE), a leading global
provider of "Quality Affordable Healthcare Products®," today
announced the pricing of the registered public offering of
5,921,053 of its ordinary shares at a public offering price of
$152.00 per share. Perrigo has
granted the underwriters a 30-day option to purchase an additional
888,157 ordinary shares.
Perrigo estimates that the net proceeds from the offering will
be approximately $870.8 million (or
approximately $1.0 billion if the
underwriters exercise in full their option to purchase additional
ordinary shares).
Perrigo intends to use the net proceeds of the offering,
together with the proceeds of other financing sources, to fund the
cash consideration for its proposed acquisition (the "Acquisition")
of Omega Pharma Invest NV ("Omega") and to repay or refinance
certain indebtedness of Perrigo and/or Omega. The offering is not
contingent on the consummation of the Acquisition. If the
Acquisition is not consummated, the net proceeds of the offering
will be used for general corporate purposes, which may include
capital expenditures; the repayment of debt; investments in
subsidiaries; additions to working capital; the repurchase,
redemption or retirement of our securities; acquisitions and other
business opportunities. The offering is expected to close on
November 26, 2014, which is prior to
the expected date of the consummation of the Acquisition.
J.P. Morgan, Barclays and BofA Merrill Lynch are the joint
book-running managers in the offering.
The offering is being made pursuant to an effective shelf
registration statement filed with the Securities and Exchange
Commission ("SEC"). The offering will be made only by means of a
prospectus supplement relating to the offering and the accompanying
base prospectus, copies of which may be obtained by contacting:
J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions,
1155 Long Island Avenue, Edgewood, New
York 11717, telephone: (866) 803-9204; or Barclays Capital
Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717, email:
Barclaysprospectus@broadridge.com, or telephone: (888)
603-5847.
About Perrigo
From its beginnings as a packager of generic home remedies in
1887, Perrigo Company plc, headquartered in Ireland, has grown to become a leading global
healthcare supplier. Perrigo develops, manufactures and distributes
over-the-counter (OTC) and generic prescription (Rx)
pharmaceuticals, nutritional products and active pharmaceutical
ingredients (API), and receives royalties from Multiple Sclerosis
drug Tysabri®. The Company is the world's largest manufacturer of
OTC healthcare products for the store brand market and an industry
leader in pharmaceutical technologies. Perrigo's mission is to
offer uncompromised "Quality Affordable Healthcare Products®" and
it does so across a wide variety of product categories primarily in
the United States, United Kingdom, Mexico, Israel and Australia, as well as more than 40 other key
markets worldwide, including Canada, China
and Latin America.
No Offer or Solicitation
This press release does not constitute an offer to sell, or an
invitation to subscribe for, purchase or exchange, any securities,
nor shall there be any sale, issuance, exchange or transfer of the
securities referred to in this announcement in any jurisdiction in
contravention of applicable law.
Cautionary Statement Regarding Forward-Looking
Statements
This press release includes certain "forward looking statements"
within the meaning of, and subject to the safe harbor created by,
Section 21E of the Securities Exchange Act of 1934, as amended,
with respect to the business, strategy and plans of the Company,
its expectations and its future financial condition and
performance. Statements that are not historical facts, including
statements about the Company's managements' beliefs and
expectations, are forward looking statements. Words such as "may,"
"will," "could," "would," "should," "expect," "plan," "anticipate,"
"intend," "believe," "estimate," "predict," "potential" or the
negative of those terms or other comparable terminology are
intended to identify forward looking statements but are not the
exclusive means of identifying such statements. While the Company
believes these expectations, assumptions, estimates and projections
are reasonable, such forward-looking statements are only
predictions and involve known and unknown risks and uncertainties,
many of which are beyond the Company's control. By their nature,
forward looking statements involve risk and uncertainty because
they relate to events and depend upon future circumstances that may
or may not occur. Actual results may differ materially from the
Company's current expectations depending upon a number of factors
affecting the Company's business. These factors include, among
others, the inherent uncertainty associated with financial
projections; successful completion of the transactions contemplated
herein; the risks and uncertainties normally incident to the
pharmaceutical industry, including product liability claims and the
availability of product liability insurance; market acceptance of
and continued demand for the Company's products; changes in tax
laws or interpretations that could increase the Company's tax
liabilities; and such other risks and uncertainties detailed in the
Company's periodic public filings with the SEC, including but not
limited to those discussed under "Risk Factors" in the Company's
Form 10-K for the fiscal year ended June 28,
2014, in the subsequent filings with the SEC and in other
investor communications of the Company from time to time. The
forward-looking statements in this document are made only as of the
date hereof, and unless otherwise required by applicable securities
laws, the Company disclaims any intention or obligation to update
or revise any forward-looking statements, whether as a result of
new information, future events or otherwise.
Logo -
http://photos.prnewswire.com/prnh/20120301/DE62255LOGO
SOURCE Perrigo