“Mylan Laboratories is a good acquisition target for Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA), and in my opinion, Teva’s shareholders will welcome it, but it also depends on the price Teva has to pay for Mylan shares, ” says Lilian Montero, an analyst for Swiss investment bank Julius Baer. Montero, who covers the Teva and Mylan shares, believes that Teva management “is taking interesting measures, and with the acquisition of Mylan, the company will be in a better position.”
Teva is seeking to acquire Mylan in a deal totaling over $40 billion ($82 per Mylan share). Mylan, which is opposing the takeover, wants to acquire Perrigo Company (NYSE:PRGO; TASE:PRGO) in a deal worth over $30 billion, but Perrigo also does not want to be acquired. According to Montero, Teva’s proposed acquisition of Mylan will add to its profit even at $100 per Mylan share… [READ MORE]
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Published by Globes [online], Israel business news – www.globes-online.com