November 14, 2007 / 11:23 AM / in 11 years

Mylan says offering of 53.5 mln shares priced at $14/shr

Nov 14 (Reuters) - Mylan Inc MYL.N said its public offering of 53.5 million common shares was priced at $14 each and 1.86 million shares of 6.5 percent mandatory convertible preferred stock at $1,000 a share.

The generic drug maker said the offerings will generate net proceeds of about $2.5 billion and plans to prepay a portion of the bridge loans that were borrowed to partly finance its acquisition of Merck KGaA’s (MRCG.DE) generics business. (Reporting by Manish Gupta in Bangalore; Editing by Jarshad Kakkrakandy)

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