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EU: Mylan makes hostile $31.2 billion Perrigo bid

By  |  April 26, 2015

Generic drug company Mylan increased its offer for over-the-counter giant Perrigo Friday, days after Israel’s Teva attempted to head off that deal with its own bid for Mylan.

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    But the new proposal was quickly rejected by Perrigo’s board, while Teva said its interest in Mylan remained alive.

    The bid was worth about $222 dollars per share, or around $32.6 billion in total, based on Mylan’s closing price on Thursday.

    That topped Mylan’s $205 a share proposal on April 8, which was rejected Tuesday by Perrigo’s board as too low, undervaluing its growth prospects.

     

    Full Content: The New York Times

     

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