Cephalon Shareholders Approve Acquisition by Teva

Cephalon, Inc. CEPH today announced that its stockholders voted to approve the Teva Pharmaceutical Industries Ltd. TEVA proposal to acquire Cephalon for $81.50 per share in cash, or a total enterprise value of approximately $6.8 billion. The transaction remains under review by the U.S. Federal Trade Commission and the European Commission. Cephalon and Teva continue to operate as two independent companies pending those clearances.