Updated from 10 a.m. EDT
has acquired 92% of Croatian pharmaceuticals company Pliva through a $2.5 billion tender offer.
The company also said Friday that the Federal Trade Commission has voted 5-0 to permit the acquisition, subject to "minimal divestitures" of certain overlapping product lines.
The transaction, which is expected to close by Oct. 25, will make Pliva a Barr subsidiary and create the third-largest global generic pharmaceutical company based on revenue of approximately $2.4 billion a year.
and the Sandoz unit of Switzerland's
are the two biggest generics manufacturers.
As a result of the Pliva acquisition, Barr will have a presence in more than 30 countries and employ roughly 8,000 people.