Merger Love Triangle: Perrigo Rejects Mylan Again, Teva Pens Letter to Mylan Board

Source: Reuters

Apr 30, 2015

On Monday, Mylan rejected Teva's $40 billion offer and made public a scathing letter to Teva. Two days later, Perrigo rejected Mylan's latest offer, worth $34.1 billion.

Mylan claims Teva's offer grossly undervalues the company, and Mylan CEO Robert Coury expressed his extreme displeasure with the Israel-based company in a public letter. In response to Mylan's letter, Teva then sent its own letter to Mylan's board, reiterating that Teva’s proposal provides premium value for Mylan, and discouraging Mylan's "mudslinging."

Perrigo, which sells OTC consumer products, continues to assert that Mylan's latest offer is too low, and Mylan now plans take its offer for Perrigo directly to shareholders.

Read the Reuters updated press release

Show Comments
Hide Comments

Join the discussion

We welcome your thoughtful comments.
All comments will display your user name.

Want to participate in the discussion?

Register for free

Log in for complete access.

Comments

No one has commented on this page yet.

RSS feed for comments on this page | RSS feed for all comments