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EU: At $34.10 billion, Perrigo rejects Mylan again

 |  April 29, 2015

Mylan boosted its cash-and-stock offer to buy Perrigoto $34.10 billion, a bid that was swiftly rejected.

Mylan’s pursuit of Perrigo, a major producer of over-the-counter drugs, is widely seen as an attempt to fend off a $40 billion offer from Teva Pharmaceutical Industries the world’s biggest maker of generic drugs.

Mylan’s latest offer comprised $75 in cash and 2.3 of its shares for each Perrigo share, up from its previous offer of $60 in cash and 2.2 of its shares.

Perrigo’s rejection further intensifies a three-way battle to gain abigger share of the generic drugs market as more leading drugs lose patent protection.

“Today’s announcement from Mylan continues to propose a price lower than the previously rejected proposal,” Perrigo said.


Full Content: The New York Times


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