(Reuters) – Pfizer Inc (N:) is in talks to merge its off-patent drugs business with Mylan NV (O:) in a stock deal, the Wall Street Journal reported on Saturday, citing people familiar with the matter.

Mylan shareholders would receive a little more than 40% of the newly formed entity, with Pfizer shareholders receiving the remainder, the Journal said, adding Pfizer would also get about $12 billion in proceeds from a new sale of debt.

Pfizer and Mylan did not immediately respond to requests for comment.

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2019-07-27