Aug 5, 2016 1 min read

CANONSBURG — Mylan N.V. has completed the settlement of its recommended public offer to Meda’s shareholders to tender all shares of the company to Mylan.

The company said Friday that shareholders with approximately 94 percent of Meda shares accepted the offer, and Mylan acquired each of them in accordance with the offer’s terms.

“We are very pleased to have received the overwhelming shareholder support required to complete our acquisition of Meda,” said Mylan Chairman Robert Coury in a statement. “Mylan continues to differentiate itself among the world’s pharmaceutical companies in terms of our unique profile and growth trajectory. The addition of Meda will only further add to our existing leadership position within our space and continue to create significant value for our shareholders and other stakeholders.”

Mylan, which is incorporated in the Netherlands, but runs the company from its Southpointe-based headquarters, said the acquisition, valued at $7.2 billion, will provide a bigger geographic reach and a portfolio of specialty and over-the-counter drugs.

Meda is now a controlled subsidiary of Mylan.