Spurning Teva's $40 Billion, Mylan Resumes Hot Pursuit of Perrigo, Despite $31 Billion Snub
SUGAR LAND--April 29, 2015--Reported by Annette Kreuger, Industrial Info Resources (Sugar Land, Texas)--Who needs reality television when there are pharmaceutical companies on the prowl? The drama ratcheted up this week following the snub of generic giant Teva's (NYSE:TEVA) (Petah Tikva, Israel) unsolicited $40 billion-plus offer for smaller rival Mylan (NASDAQ:MYL) (Canonsburg, Pennsylvania). With its board claiming the Teva offer a "gross undervalue," Mylan refocused on its own $31 billion hostile bid for yet generic and over-the-counter (OTC) player, the Perrigo Company plc (NYSE:PRGO) (Dublin, Ireland).
Within the article: Details on the two proposed takeovers.
