John Paulson‘s hedge fund has increased its holdings in Mylan NV to 4.5%. The fund, which supports Teva Pharmaceutical Industries Ltd.’s (NYSE: TEVA; TASE: TEVA) takeover bid for Mylan, bought seven million Mylan shares on April 30, giving it a total of 22 million shares.
Mylan is now Paulson’s second largest holding, with a value of $1.6 billion.
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The purchase will give Paulson greater influence on the Mylan shareholders and board of directors, after company management rejected Teva’s offer to purchase, preferring meanwhile to continue its attempts at promoting a merger with Perrigo Company (NYSE:PRGO; TASE:PRGO)…. [READ MORE]
Published by Globes [online], Israel business news – www.globes-online.com