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BRIEF-Drugmaker Amneal to combine with Impax Labs
2017年10月17日 / 中午12点18分 / 1 个月前

BRIEF-Drugmaker Amneal to combine with Impax Labs

Oct 17 (Reuters) - Impax Laboratories Inc

* Amneal and Impax to combine

* Transaction expected to generate $200 million of annual cost savings within three years​

* Deal to be accretive to Impax’s adjusted EPS within first 12 months​

* Impax affirms 2017 financial guidance​

* Amneal Holdings members to own about 75%, Impax shareholders to own about 25% of new co’s pro forma shares on as converted basis​

* Fy2017 earnings per share view $0.70, revenue view $800.8 million -- Thomson Reuters I/B/E/S

* Combined company is expected to have 2018 pro forma adjusted EBITDA of approximately $700 million to $750 million​

* Amneal’s founders and co-chief executive officers, Chirag Patel & Chintu Patel, will serve as co-chairmen of combined co’s board

* ‍Paul Bisaro, president and CEO of Impax, will serve as chief executive officer of combined company​

* Co and ‍amneal Pharmaceuticals entered into a definitive business combination in an all-stock transaction​

* Under terms of agreement, a new, publicly traded holding company, Amneal Pharmaceuticals Inc, will be formed​

* Amneal Holdings members immediately prior to closing of transaction will receive non-economic, voting shares of Amneal Pharmaceuticals Inc​

* Amneal Holdings members to be able to exchange membership units in Amneal Pharmaceuticals LLC for class A shares of Amneal Pharmaceuticals Inc​

* Deal will be structured as “Up-C” deal with tax receivable agreement split 85% / 15% between Amneal Holdings members, Amneal Pharmaceuticals

* Amneal members entered agreements with investors to sell 46.8 million unregistered common shares at $18.25/share in connection with deal​

* New combined co’s board of directors is expected to be comprised of 11 members, six of whom will be appointed by Amneal Holdings​

* Combined co secured financing from JPMorgan Chase & Bank of America Merrill Lynch to refinance debt obligations of co, Amneal​ Source text for Eikon: Further company coverage:

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