ALLEGAN, Mich., Nov. 18, 2013 /PRNewswire/ -- Perrigo Company (NYSE: PRGO; TASE), a leading global healthcare supplier ("Perrigo") today announced that, at a shareholder meeting held today, proposals related to Perrigo's proposed acquisition of Elan Corporation, plc (NYSE: ELN) ("Elan") were approved by Perrigo's shareholders.
"We are pleased with the shareholder approval for this transaction, which establishes a diversified platform to enable future expansion as an integrated company," said Perrigo Chairman, President and CEO Joseph C. Papa. "Moving forward, we will continue to build on our position as an industry-leading global healthcare company with the balance sheet liquidity and operational structure to accelerate our growth."
Perrigo's shareholder approval satisfies certain conditions to the closing of the transaction. The closing of the transaction remains subject to certain regulatory approvals, approval by the Irish High Court and other customary closing conditions, and is expected to occur by the end of calendar year 2013.About PerrigoFrom its beginnings as a packager of generic home remedies in 1887, Perrigo Company, based in Allegan, Michigan, has grown to become a leading global healthcare supplier. The Company develops, manufactures and distributes over-the-counter ("OTC") and generic prescription ("Rx") pharmaceuticals, nutritional products and active pharmaceutical ingredients ("API") and is the world's largest manufacturer of OTC pharmaceutical products for the store brand market. 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 certain other markets throughout the world, including Canada, China and Latin America. Visit Perrigo on the Internet ( http://www.perrigo.com). Cautionary Statement regarding Forward-Looking StatementsThis announcement 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 Perrigo, its expectations relating to the transactions contemplated by the Transaction Agreement between, Elan, Perrigo, Leopard Company, Habsont Limited and Perrigo Company Limited (f/k/a Blisfont Limited) ("New Perrigo"), dated July 28, 2013 (the "Transaction Agreement"), and Perrigo's future financial condition and performance, including estimated synergies. Statements that are not historical facts, including statements about Perrigo's management's beliefs and expectations, are forward looking statements. Words such as 'believes', 'anticipates', 'estimates', 'expects', 'intends', 'aims', 'potential', 'will', 'would', 'could', 'considered', 'likely', 'estimate' and variations of these words and similar future or conditional expressions are intended to identify forward looking statements but are not the exclusive means of identifying such statements. Examples of such forward looking statements include, but are not limited to, statements about expected benefits and risks associated with the transactions contemplated by the Transaction Agreement, projections or expectations of profit attributable to shareholders, including estimated synergies, anticipated provisions or write-downs, economic profit, dividends, capital structure or any other financial items or rations; statements of plans, objectives or goals of Perrigo, New Perrigo, Elan or the combined business following the transactions contemplated by the Transaction Agreement; statements about the future trends in tax or interest rates, liquidity, foreign exchange rates, stock market levels and demographic trends and any impact that those matters may have on Perrigo, New Perrigo, Elan or the combined company following the transactions contemplated by the Transaction Agreement; statements concerning any future Irish, UK, US or other economic or regulatory environment or performance; statements about strategic goals, competition, regulation, regulatory approvals, dispositions and consolidation or technological developments in the healthcare and lifesciences industry; and statements of assumptions underlying such statements.