Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA), the Israeli drugmaker, is preparing to improved proposal for US rival Mylan to as much as $43 billion, $86 to $88 a share, as soon as this week, Financial Times report. Mylan had a market value of about $34.4 billion as of last week’s close.
In April, Mylan rejected an offer which valued it at $82 a share, or $40 billion.
“Bloomberg” added that Mylan is planning to hold a shareholder meeting this summer to vote on its Perrigo proposal, and an offer from Teva would pose an alternative for proxy firms advising Mylan shareholders.
Teva’s initial offer in April was contingent on Mylan dropping its bid for Perrigo. Mylan instead raised its offer for the Dublin-based company to $32.7 billion, its third proposal to be rebuffed.
“Size is important in the industry, but it isn’t everything. It’s important
to be better. You have to make acquisitions that will suit the company’s
strategic direction and contribute to More…
Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) has completed
first step to buy its rival Mylan N.V. (Nasdaq: MYL). The Israeli giant announced
on Friday that it has completed the purchase of a 4.61% More…
The U.S. Court of Appeals has again ruled that Teva Pharmaceuticals
Industries Ltd.’s patent for its top-selling multiple sclerosis treatment
Copaxone is invalid. A Teva spokeswoman said that the company is “committed More…
Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) continues
to accumulate shares in takeover target Mylan (MYL), even as Mylan’s largest
shareholder, Abbott Labs (NYSE: ABT), announced its More…
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…
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…