Teva Pharmaceutical Industries strives to purchase more shares in Mylan NV, positioning itself for a possible legal challenge to the generics company, according to a Reuters article. The strategy is said to be a sign of Teva's commitment to its $40 billion bid for Mylan, as Mylan pursues its own $34 billion hostile bid for Perrigo Company Plc.
Last week Teva bought a 1.8 percent stake in Mylan, "which blasted the move as breaching U.S. antitrust laws because of the stake's size." Teva may increase its stake in Mylan to around 4.6 percent, sources said. That would allow Teva to have standing in Dutch court to potentially challenge Mylan, the story said. Read the Reuters report