Generic / Small Molecule

Abbott Backs Mylan's Perrigo Purchase, Helps Fend Off Teva

Jun 17, 2015

Yahoo! Finance

Mylan's largest stakeholder with 14.5 percent, Abbott Laboratories, said it would back Mylan's proposed acquisition of Perrigo Co., potentially helping Mylan fend off interest from Teva Pharmaceutical Industries, according to an article in Yahoo! Finance. Abbott said it supported Mylan's "standalone strategy" and that buying Perrigo would add value for shareholders.

Mylan's latest offer for Perrigo was worth $34.1 billion. Perrigo rejected Mylan's offer in late April, about the same time Mylan rejected an offer of $40 billion from Teva. Read the full story