Under the terms of the offer, Perrigo shareholders would receive $75 in cash and 2.3 Mylan ordinary shares for each Perrigo ordinary share.
Mylan will acquire Abbott's non-U.S. developed markets specialty and branded generics business.
Generic drug maker Mylan's board of directors has approved a new management structure for the company, effective Jan. 1, 2012.
Mylan co-founder and former chairman and CEO Milan "Mike" Puskar died Saturday, the generic drug maker said. Puskar, who retired from Mylan as chairman in 2009, was 77.