Contract Manufacturing / Generic

Teva May Increase Mylan Proposal to $43B This Week

Jul 08, 2015

Bloomberg

Bloomberg reported that Teva Pharmaceutical Industries Ltd. will likely increase its bid for rival Mylan NV by as much as $2 billion, to $43 billion, and may announce the new proposal as soon as this week.

Teva may offer $86 to $88 a share for Mylan, said unnamed sources. That compares with the $82 a share Teva offered in April, a price that valued the Canonsburg, Pennsylvania-based company at about $40.1 billion, the article said. Mylan had a market value of about $34.4 billion as of last week’s close.

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