May 9, 2018 / 6:09 AM / in 5 months

BRIEF-Strides Shasun, Apotex Agree To Merge Their Australian Businesses

May 9 (Reuters) - Strides Shasun Ltd:

* SAYS STRIDES & APOTEX AGREE TO MERGE THEIR AUSTRALIAN BUSINESSES

* SAYS STRIDES TO HAVE CONTROLLING INTEREST IN THE MERGED ENTITY

* SAYS PROPOSED TRANSACTION WILL BE EPS ACCRETIVE FROM YEAR 1 THROUGH MERGER SYNERGIES

* SAYS PROPOSED STRUCTURE WILL BE ARRIVED THROUGH A SHARE SWAP FOR DEAL

* SAYS STRIDES AND APOTEX BUSINESS WILL BE RUN INDEPENDENTLY UNDER THE BRANDS ARROW AND APOTEX

* SAYS HOSPITAL BUSINESS OF APOTEX WILL NOT FORM PART OF THE MERGED ENTITY AND WILL BE RETAINED BY APOTEX

* MERGED BUSINESS TO BE LED BY DENNIS BASTAS, ARROW, AS EXECUTIVE CHAIRMAN, ROGER MILLICHAMP, APOTEX, AS CEO

* SAYS MERGED BUSINESS WILL BE LED BY ANDREW BURGESS, ARROW, AS CFO

* MERGED BUSINESS WILL CONTINUE TO BE SUPPORTED BY STRIDES’ AND APOTEX’S MANUFACTURING FACILITIES Source text - bit.ly/2rwhwzx Further company coverage:

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