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Mylan Gets Nod to List Stock in Tel Aviv to Lure Perrigo

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An Israeli regulator ruled that Mylan NV may list its shares on the Tel Aviv Stock Exchange, part of an effort by the maker of generics to buy the over-the-counter drug maker Perrigo Co.

A listing in Tel Aviv could help Mylan persuade some of Perrigo’s Israel-based shareholders to support its offer, which values the Dublin-based drugmaker at $172.15 a share in cash and stock. Israeli institutional investors own more than 10 percent of Perrigo after a 2005 acquisition in Israel prompted it to list on the exchange. Perrigo Chief Executive Officer Joe Papa is trying to fend off Mylan, saying a deal would be a bad fit and comes with significant risk.