RTTNews | Sep 30, 2021 10:22AM EDT

10:21 Thursday, September 30, 2021 (RTTNews.com) - Ireland-based healthcare company, Perrigo Company plc (PRGO) is trading 12% higher in the market after the company announced that it has reached a settlement with the Irish Office of the Revenue Commissioners for the Notice of Amended Assessment that was issued against the company back in November 2018.

Initially, the income tax office had charged the company to pay 1.6 billion euros without penalties and interests but in July 2021, the office ruled that it was not aware of all the relevant facts and reduced more than 660 million euros from the original claims. After added adjustments to the claims, the company and the tax office have settled for a payment of 266.1 million euros which Perrigo is supposed to pay within a week to execute a formal settlement agreement.

Following the news, the stock is trading at $48.63, up $5.13 or 11.79% since the previous close at $43.50. The shares opened at $50.73 in the morning. In the 52-week period, the shares have ranged between $38.20 and $51.09 per share.

Read the original article on RTTNews ( https://www.rttnews.com/3229577/perrigo-settles-tax-agreement-shares-boost-12.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com All Rights Reserved