McGaw Is Bought in $440-Million Stock Swap

Ivax Corp., a Miami company that makes chemical and generic drugs, has completed its acquisition of McGaw Inc. in a stock swap valued at about $440 million, the companies said Monday.

McGaw shareholders will receive $16 worth of Ivax stock for each McGaw share. About half a share of Ivax common stock will be exchanged for each of McGaw’s 27.4 million shares.

Shares of McGaw, an Irvine-based intravenous-solution maker, stopped trading Friday. Ivax stock closed Monday at $27.375, down $1.75, in trading on the American Stock Exchange.