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.
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“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.”
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