Teva Announces Proposed Public Offerings Of American Depositary Shares And Mandatory Convertible Preferred Shares In Connection With Pending Acquisition Of Actavis Generics

JERUSALEM--(BUSINESS WIRE)--Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) announced today that it is commencing concurrent offerings totaling approximately $6.75 billion, consisting of approximately $3.375 billion of its American Depositary Shares (“ADSs”), each representing one Teva ordinary share, and approximately $3.375 billion of its Mandatory Convertible Preferred Shares. Final amounts of these securities will be determined based on market and other conditions. Teva intends to use the net proceeds from these offerings towards the cash portion of the purchase price for its previously announced acquisition of Allergan plc’s worldwide generic pharmaceuticals business (“Actavis Generics”), and to pay related fees and expenses, for the pending acquisition of Rimsa or otherwise for general corporate purposes.