New Jersey-base Barr Pharmaceuticals Inc. said its shareholders approved the company's acquisition by Teva Pharmaceutical Industries Ltd.

In July, the Israeli generic drug maker agreed to acquire 100 percent of Barr for about $7.46 billion, in cash and stock, plus assumption of net debt of about $1.5 billion (about $66.50 a share).

The transaction is expected to be completed by the end of this year.

The Barr Group of companies markets more than 120 generic and 27 proprietary products in the U.S. and some 1.025 products globally, outside of the U.S. The company operates in more than 30 countries worldwide.