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PFE - Mylan Looks Attractive Heading Into Merger With Pfizer's Upjohn
Pfizer Inc.
Overview
On July 29, 2019, Pfizer (PFE) and Mylan (MYL) jointly announced that Pfizer’s Upjohn division would be combined with Mylan in a Reverse Morris Trust transaction. The transaction is expected to be tax-free for Pfizer shareholders, who will receive 57% of the shares of the new company, and taxable to Mylan shareholders, who will own 43% of the shares of the new company. The spin-off is expected to be completed by mid-year.
Why The Spin-Off?
Both parties agreed to this transaction for a multitude of reasons that, in the end,