By Tess Stynes
Abbott Laboratories filed to offer nearly a third of its stake
in Mylan NV that it got from the recent sale of a portion of its
generic-drugs business to the Netherlands-based drug maker.
The companies in July said Mylan would buy Abbott's drug
portfolio in developed overseas markets, in a $5.3 billion deal
that would allow Mylan to benefit from a lower tax rate by
organizing the new company in the Netherlands. Under a revised
deal, Abbott received a stake of about 22% in the new Mylan.
The stock sale unveiled Monday includes 35 million shares, or
about 31.8% of the 110 million shares that Abbott received under
the deal.
Mylan isn't selling any shares in the offering and won't receive
any of the proceeds.
Write to Tess Stynes at tess.stynes@wsj.com
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