All stock Upjohn-Mylan merger brings $12bn debt
Pfizer has agreed to spin off its off-patent drug business Upjohn and merge it with generic drug company Mylan, in an all-share deal that will still see $12bn of debt raised.
Each Mylan share will be converted into a share of the new company. Pfizer shareholders will own 57% of the new entity, with Mylan shareholders owning the rest.
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