A surprising merger
Pfizer's (PFE) generics unit Upjohn and Mylan (MYL) announced their merger today:
"Under the terms of the agreement, which is structured as an all-stock, Reverse Morris Trust transaction, each Mylan share would be converted into one share of the new company. Pfizer shareholders would own 57% of the combined new company, and Mylan shareholders would own 43%. The Boards of Directors of both Mylan and Pfizer have unanimously approved the transaction.
... The transaction will allow the new company to meaningfully expand the geographic reach of Mylan's existing