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Three way takeover battle: Abbott Labs to back Mylan’s acquisition of Perrigo

L-R Joseph Papa,   Perrigo,   Robert,   Coury-1-Mylan,   Erez Vigodman,   Teva

Abbott Laboratories (NYSE: ABT), said it would back the generic pharmaceutical company Mylan’s (MYL) $34 billion bid acquisition of Perrigo Co Plc (PRGO.N). Abbott Lab potentially helping Mylan forfend $40 billion offer by Teva Pharmaceutical Industries Ltd (NYSE: TEVA; TASE: TEVA).

At the same time Teva continues buying Mylan stock and has built its shares up to 3.7% and plans reaching a 4.6% holding.

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Since other Mylan’s shareholders oppose buying Perrigo, Teva’s deal could yet go through.

Abbott, with its 14.5 percent stake in Mylan, said on Tuesday: “We are very pleased that, while Abbott is under no obligation to do so, Abbott has voluntarily chosen to express its support of Mylan, ” announced Abbott Chief Executive Miles White, “our strategic growth plan and stand-alone strategy, and our proposed combination with Perrigo. When we acquired Abbott’s non-U.S. developed markets specialty and branded generics business earlier this year, we gained an important stakeholder in Abbott, which understands the powerful potential of our platform, and the critical importance of our scale and breadth across our distribution channels. We are grateful for Abbott’s support of our long-term vision, which we firmly believe will continue to deliver strong near-term and long-term returns in this rapidly evolving industry and will promote the sustainable success of Mylan’s business.”

Abbott added that it supports Mylan remaining an independent company and thinks that buying Perrigo will benefit shareholders.

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

By Shiri Habib-Valdhorn On Monday, June 15th, 2015

Three Way Takeover Battle: Statistics Weigh Against Teva’s Mylan Bid Succeeding

Will drug company Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) succeed in its attempted hostile takeover of rival Mylan (MYL), or will it be Mylan that succeeds in its own hostile takeover More…

L-R Robert-J-Coury-1-Mylan- Teva Erez Vinograd and Yitzhak Peterburg

By Clive Minchom On Monday, June 8th, 2015

Teva Issues New Letter to Mylan NV Confirming Seriousness of Offer to Acquire Mylan

Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) issued a new open letter on Monday, signed by both the Teva Chairman Yitzhak Peterburgand and Teva’s CEO Erez Vigodman, addressed to Robert More…

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

By Ilan Shavit On Tuesday, June 2nd, 2015

Mylan to Teva: Stop Playing Games With Our Company

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 More…

L- R Joseph Papa,   Perrigo,   Heather Bresch of Maylen ,   Erez Vigodman ,  Teva  - 11

By Niva Goldberg On Saturday, May 30th, 2015

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…



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