Upon completion of Mylan's acquisition of King, Mylan shareholders will own approximately 56percentt of the outstanding common shares of Mylan, and King shareholders will own approximately 44percentt.
"A national dependence on accessibility to EpiPens has been well established since Mylan's acquisition of the device in 2007.
Mr. Icahn made similar charges of empty voting in the proxy battle involving Mylan's acquisition of King Pharmaceuticals and actually brought litigation against the hedge fund Perry Capital.
In a filing with the U.S. Securities and Exchange Commission, he wrote, "We believe that there are much better alternatives for Mylan than the acquisition of King…In fact, in light of the many risks associated with King, we believe that an acquisition of King would be an egregious mistake".
Also, say analysts, Mylan's recent acquisitions have stretched its financial capacity.
Mylan's chief executive, Heather Bresch, said in a telephone interview that the acquisition, expected to be completed in the fourth quarter, would help expand the company's presence in emerging overseas markets and establish it as a major player in the injectables market.
Mylan said earlier this month it expected to cut less than 10percentt of its workforce to integrate its acquisitions.
Mylan's chief executive, Robert Coury, said that the company planned a conference call with investors on Nov. 1 to explain the benefits of the acquisition.
Mylan is based in Pittsburgh.
Mylan, based near Pittsburgh, Pa., said it had received a commitment letter from Morgan Stanley for a $1 billion senior unsecured bridge term loan, which would be used in combination with the company's existing cash and other lines of credit to pay for the acquisition.
Mylan is acquiring Agila from the Indian pharmaceutical company Strides Arcolab.
