Mylan reports that Teva Pharmaceutical Industries, which has made an unsolicited offer for the company, violated U.S. anti-trust rules by acquiring a stake, but did not clarify which anti-trust rule it violated.
Five weeks after Teva’s made an offer for a $40 billion takeover bid, the Israeli generic pharmaceuticals company last week disclosed a 1.35 percent stake worth $460 million in Mylan.
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at [email protected].
Thank you.
“We consider Teva’s stake building as a further indication of its intention to meddle with our business, strategy and mission while remaining unclear as to its actual intentions, ” Mylan said in a letter addressed to Teva’s chief executive, Erez Vigodman.
In a letter to Teva CEO Erez Vigodman yesterday Mylan chairman Robert Coury wrote, “Teva’s actions can only be considered to be a thinly veiled attempt to frustrate our board’s clearly articulated, consistent and successful strategic direction, including the vote at the EGM on our pending acquisition of Perrigo. It is time for Teva and its board to stop playing games with our company, its business, mission and strategy and its stakeholders.”
READ MORE:
Mylan’s CEO on Teva “They Are Getting Ready to Go Off the Cliff”
“We just don’t think Teva is the right company” to combine with, “They are getting ready to go off the cliff, ” Mylan NV, CEO Heather Bresch said Friday at a conference in New York City hosted by Sanford More…
Teva Settles Cephalon Case With FTC for $1.2 Billion Over Block Generic Drug Competition
Teva Pharmaceutical Industries Ltd. has agreed to pay $1.2 billion in a settlement with the U.S. Federal Trade Commission (FTC), resolving claims that Cephalon Inc. blocked generic drug competition. Teva acquired More…
Three Way Takeover Battle: Teva Doesn’t Take NO as an Answer
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 More…
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…
