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Perrigo CEO defends Elan acquisition

This article was originally published in Scrip

Executive Summary

When news of Perrigo's friendly acquisition offer for Elan hit the news wires on the morning of 29 July, the over-riding reaction from observers was one of confusion. Why was this a good deal for Perrigo? Surely it could have taken advantage of the Irish tax system through the more cheaper option of relocating domicile to Ireland, just as Shire did a few years ago, rather than paying out cash and stock of $8.6bn (scripintelligence.com, 29 July 2013)?

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