Mylan N.V. (NASDAQ: MYL) announced that it would have a 35 million share secondary offering. At Tuesday’s closing price of $59.35, the offering would be valued at $2.08 billion. Total assets owned by the company at the end of 2014 were valued at $15.89 billion.

The joint book-runners and underwriters for this offering are Morgan Stanley and Goldman Sachs.

Note that the selling shareholders for this offering are subsidiaries of Abbott Laboratories (NYSE: ABT). Prior to the offering, the selling shareholders owned a combined 22.31% of Mylan. After the offering, they will own a combined 15.33%.

Mylan is a global pharmaceutical company, and through its subsidiaries the company develops, licenses, manufactures, markets and distributes pharmaceuticals. The company has a broad product portfolio that includes roughly 1,400 marketed products to customers in approximately 145 countries and territories.

Back in mid-July, Mylan entered into a definitive agreement with Abbott to acquire Abbott’s non-U.S. developed markets specialty and branded generics business in an all-stock transaction. The transaction closed on February 27, 2015 after receiving approval from Mylan’s shareholders on January 29, 2015.

When the transaction closed, Abbott transferred the business to Mylan in exchange for 110 million of Mylan’s ordinary shares.

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As a result of the transaction, Mylan shareholders owned roughly 78% of the ordinary shares while Abbott’s subsidiaries owned approximately 22% of the ordinary shares.

Mylan will not receive any proceeds from the secondary offering.

Shares of Mylan were down 1.6% at $58.38 midday Wednesday. The stock has a 52-week trading range of $44.74 to $65.63, and the company has a market cap of $22 billion.

Abbott shares were down 1.5%, at $45.67, in a 52-week range of $36.65 to $47.88. The market cap is $69 billion.

See the full SEC filing.

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