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Three Way Takeover Battle: Teva doesn’t take NO as an answer

TEVA ,   EREZ VIGODMAN Robert-J-Coury-1 Mylan 320X=p

Teva Pharmaceutical Industries Ltd, an Israeli-based company, has acquired a 1.35 percent stake in Mylan through purchases on the open market, increasing pressure on its rival’s management to come to the table for negotiations on a takeover.

Teva reported yesterday that it had bought stake in Mylan at prices generally between $69 and $71 per share. Mylan’s current market cap is about $34 billion, so Teva’s stake is worth some $450 million.

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“Acquiring shares of Mylan underscore our commitment to consummating a transaction as soon as possible, ” Teva said in a statement.

Earlier this year, Teva offered roughly $40 billion to buy Mylan, disrupting the latter’s own attempt to purchase Perrigo. Mylan has dismissed Teva’s overtures.

In response to Teva’s bid, Mylan chairman Robert Coury wrote a humiliating letter to Teva CEO Erez Vigodman, which, among other things, said, “While I recognize that you are fairly new to your position, I cannot ignore the fact that you were present on Teva’s Board during some of the company’s most turbulent and ‘dysfunctional’ times.”

To complete the story, Mylan chairman Robert Coury told investors that he was still of the view that an acquisition by Teva was unwelcome, and remarked that Mylan may even consider buying  Teva.

On the other hand, Mylan has itself made a $33 billion bid for US-Israeli pharmaceuticals company Perrigo (PRGO). Perrigo has rejected but later CEO Joseph Papa said: it is a question of price..


All the History from the beginning 

Joseph C. Papa - PERRIGO - PR

By Niva Goldberg On Tuesday, May 19th, 2015

Perrigo CEO Will Discuss Deal With Mylan at Right Price

Perrigo Company (NYSE:PRGO; TASE:PRGO) CEO Joseph Papa is ready to talk with Mylan N.V. (MYL) about its takeover bid, but at a higher price. The rival drugmaker’s present bid is nowhere near there. Perrigo More…

Teva CFO Eyal-Desheh

By Shiri Habib-Valdhorn On Thursday, May 14th, 2015

Three Way Takeover Battle- Teva: We Can Close Mylan Deal in 2015

Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) CFO Eyal Desheh remains upbeat about Teva’s attempts to buy Mylan N.V. (Nasdaq: MYL). At the same time, Mylan continues to oppose the takeover More…

TEVA ,   EREZ VIGODMAN Robert-J-Coury-1 Mylan 320X=p

By Kurt Tucholsky On Wednesday, May 13th, 2015

Actavis CEO: Teva-Mylan Deal to Create ‘Bad Blood’, Destroy Value

As Israeli pharmaceutical giant Teva pushes ahead with a $40-billion dollar hostile bid for US generic drugmaker Mylan, Brent Saunders, CEO of rival drug manufacturer Actavis, has raised concerns about the More…

(L-R) Robert J Coury,   Mylan and Josegh Papa,   Periggo

By Koby Yeshayahou On Tuesday, May 12th, 2015

Three Way Takeover Battle: Mylan Mulling Improved Offer for Perrigo – Bloomberg

Mylan (MYL) is considering an improved offer to shareholders of Perrigo (PRGO) with the aim of acquiring the company and thus heading off the hostile bid for Mylan from Teva Pharmaceutical Industries Ltd. (NYSE: More…

TEVA ,   EREZ VIGODMAN Robert-J-Coury-1 Mylan 320X=p

By Reuters On Friday, May 8th, 2015

Three Way Takeover Battle: Mylan Chairman Tells Investors He Would Consider Buying Teva

Reuters Exclusive: Generics drugmaker Mylan NV (MYL.O), which is in the middle of a three-way takeover battle, has said it is unwilling to sell itself to Israeli rival Teva Pharmaceuticals Industries Ltd More…

(L-R) Robert J Coury,   Mylan and Josegh Papa,   Periggo

By Pittsburgh Post-Gazette On Thursday, May 7th, 2015

Perrigo Backs Reason to Spurn Mylan

When Mylan and Perrigo executives had a “very preliminary” discussion a year ago about possibly merging the two generic drug companies, Perrigo was a different company, according to its CEO Joe Papa. Back More…

John Paulson 640x360

By Koby Yeshayahou On Wednesday, May 6th, 2015

Teva Takeover Supporter Paulson Raises Mylan Stake

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 More…


By Tali Tsipori On Tuesday, May 5th, 2015

Benny Landa: Teva Would Be Wrong to Buy Mylan

Benny Landa feels confused. The successful entrepreneur, one of the fathers of Israel’s digital printing equipment industry, does not quite understand why Israel’s Teva Pharmaceutical Industries Ltd. More…

TEVA ,   EREZ VIGODMAN Robert-J-Coury-1 Mylan 320X=p

By Shiri Habib-Valdhorn On Monday, May 4th, 2015

Mylan Chairman Due $72 Million Golden Parachute

Mylan (MYL), the generic pharmaceuticals company that is now the object of a hostile takeover bid from Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA), reported its senior executives’ More…

TEVA ,   EREZ VIGODMAN Robert-J-Coury-1 Mylan 320X=p

By Jewish Business News Correspondent On Thursday, April 30th, 2015

Teva Sends Letter to Mylan Board: Shareholders Won’t Benefit From Mud Slinging

Mylan is using a bid for Perrigo to avoid a hostile takeover by Teva. Given sparkly valuations, it may be safer to be a seller than a buyer. April 29, 2015:  Teva Pharmaceutical Industries Ltd. (NYSE and

Perrigo Again Rejects Improved Mylan Offer

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 More…

(L-R) Robert J Coury,   Mylan and Josegh Papa,   Periggo

By Globes On Wednesday, April 29th, 2015

Mylan Raises Offer to Buy Perrigo to $35.6 Billion

Mylan, itself the subject of a hostile takeover bid from Teva, is raising its offer for Perrigo for the second time. Mylan N.V. has for the second time raised its offer to buy US-Irish-Israeli generic pharmaceuticals More…

Erez Vigodman,   Teva

By Shiri Habib-Valdhorn On Tuesday, April 28th, 2015

“Even at $100 Per Share Teva’s Mylan Bid Worthwhile”

“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 More…

TEVA ,   EREZ VIGODMAN Robert-J-Coury-1 Mylan 320X=p

By Jewish Business News Correspondent On Tuesday, April 28th, 2015

[Full Announcement] Mylan Board Unanimously Rejects Teva Bid: Low-Quality, High-Risk, Poor Record

Board concludes that approach grossly undervalues Mylan, includes Teva stock, and would expose Mylan to a problematic culture and leadership with poor record of delivering shareholder value Proposed combination More…

Erez-Vigodman teva

By Nadav Neuman On Sunday, April 26th, 2015

Teva Undeterred by Mylan Rejection

Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) is undeterred by the rejection of its bid for Mylan N.V. (Nasdaq: MYL). Teva president and CEO Erez Vigodman said, “While we are disappointed that More…

Joseph C. Papa - PERRIGO - PR

By Globes On Sunday, April 26th, 2015

Perrigo Falls After Rejecting Improved Mylan Offer

Both Perrigo and Teva are down on the Tel Aviv Stock Exchange following the Independence Day break. After US-Israeli pharmaceuticals company Perrigo (PRGO) rejected Mylan’s (MYL) takeover bid last Tuesday,  More…

Joseph C. Papa - PERRIGO - PR

By Niva Goldberg On Saturday, April 25th, 2015

Mylan Makes Hostile $31.2 Billion Perrigo Bid Against Teva

Generic drugmaker Mylan (MYL) said on Friday it would take its $31 billion offer for Perrigo Co Plc directly to shareholders, in what is set to be one of the most high-profile hostile takeover attempts of the year. The More…

Joseph C. Papa - PERRIGO - PR

By Yossi Nissan On Wednesday, April 22nd, 2015

Perrigo Rejects Mylan’s $29 Billion Takeover Bid

The board of directors of Perrigo Company (NYSE:PRGO; TASE:PRGO) has unanimously rejected the offer by Mylan NV to buy all its shares for $29 billion. Two weeks after receiving the offer, the pharmaceutical More…


By Hillel Koren On Tuesday, April 21st, 2015

Teva Bid for Mylan Could Come Today – Bloomberg

Bloomberg reports that Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) could publish a bid for its US rival Mylan Inc. (MYL) today, in what could turn out to be the largest deal of the year in pharmaceuticals… [READ More…

generic drugs

By Ilan Shavit On Sunday, April 12th, 2015

Mylan vs. TEVA: Will Generic Drug Giants’ Buying War Boost or Wound the TASE?

Israel’s stock market is expected to reach its sharpest increase since January 2013, based on last weeks’s news that drugmaker Mylan NV has offered to buy Perrigo Co., Bloomberg reported. Already, the More…

Perrigo generic drugs

By Jewish Business News On Thursday, April 9th, 2015

Mylan Makes $29 Billion Bid for Perrigo

Generic-drug maker Mylan (NASDAQ:MYL) on Wednesday said was bidding $205 a share in cash and stock for Perrigo (NYSE:PRGO). Perrigo Company plc is an Irish international manufacturer of private label over-the-counter More…

Teva-Pharmaceutical-Industries sm

By Globes On Sunday, October 5th, 2014

Wells Fargo Analyst Dismisses Teva-Mylan Merger Rumor

– Michael Faerm says such a move is unlikely and would not solve Teva’s growth problems. – Wells Fargo analyst Michael Faerm recommends that investors should not give credence to the rumors that circulated More…

copaxone_05 TEVA

By Globes On Monday, November 25th, 2013

Teva and Mylan Settle Copaxone Patent Litigation in France, the UK and the Netherlands

– The companies have agreed to settle pending patent litigation involving Copaxone in the UK, Netherlands and France. – – Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) and Mylan Inc. More…


By Ilan Shavit On Monday, September 23rd, 2013

Teva : Favorable Court Ruling in AZILECT Patent Infringement Litigation Against Mylan

– Teva sees the court preventing Mylan from launching its generic version of the Parkinson’s treatment before 2017. – – Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) today announced the U.S. District More…

Joseph C. Papa - PERRIGO - PR

By Ilan Shavit On Tuesday, May 12th, 2015

In Midst of a Three-Way Takeover: Perrigo Acquires Patheon’s Mexican Operations for $34 Million

In the middle of a hostile $34 billion takeover bid from Mylan, while, Mylan itself has become the target of a proposed $40 billion takeover from Teva Pharmaceutical Industries Ltd. Perrigo Company (NYSE:PRGO; More…


By Shiri Habib-Valdhorn On Monday, May 11th, 2015

Teva Rejected Opportunity to Acquire Perrigo

Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) had an opportunity to acquire US pharmaceuticals company Perrigo Company (NYSE:PRGO; TASE:PRGO) a few months ago, and said it was not interested, sources More…

Erez Vigodman

By Tibi Singer On Sunday, March 29th, 2015

CEO Vigodman in Race to Save Teva Through ‘Inorganic Growth’

Executives at Teva Pharmaceutical Industries Ltd., the world’s biggest producer of generic drugs and Israel’s largest publicly traded company, have been hinting that they’re preparing to make an exceptionally More…



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