Teva Pharmaceutical Industries and IVAX Corporation announced that Teva is acquiring IVAX for $7.4 billion. IVAX shares will be converted to either $26 in cash or 0.8471 TEVA ADRs. IVAX shareholders are expected to own about 15% of TEVA on a fully-diluted basis as a result of the transaction. Both companies' boards of directors have approved the transaction.
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