Published On: Wed, Apr 29th, 2015

Perrigo again rejects improved Mylan offer

(L-R) Robert J Coury,   Mylan and Josegh Papa,   Periggo
Mylan offered Perrigo shareholders $75 plus 2.3 Mylan shares per Perrigo share, for a total of $35.6 billion.

Perrigo Company (NYSE:PRGO; TASE:PRGO) board of directors has rejected Mylan’s improved offer.

Mylan N.V. had for the second time raised its offer to buy US-Irish-Israeli generic pharmaceuticals concern Perrigo company. Mylan is now offering Perrigo shareholders $75 plus 2.3 Mylan shares per Perrigo share for a total of about $35.6 billion.

The new offer reflects a share price of about $232.23 per Perrigo share based on prices on April 8 when Mylan made its first offer. The previous offer, which was rejected by Mylan, was for $222 per Perrigo share, comprising $60 in cash and 2.2 Mylan shares.

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Published by Globes [online], Israel business news – www.globes-online.com

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