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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.

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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