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Cephalon shareholders approve acquisition by Teva

Posted: 14 July 2011 | | No comments yet

Cephalon, Inc. announced that its stockholders voted to approve the TEVA proposal to acquire Cephalon…

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Cephalon, Inc. (Nasdaq: CEPH) today announced that its stockholders voted to approve the Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA) proposal to acquire Cephalon for $81.50 per share in cash, or a total enterprise value of approximately $6.8 billion.

The transaction remains under review by the U.S. Federal Trade Commission and the European Commission. Cephalon and Teva continue to operate as two independent companies pending those clearances.

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