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.
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“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.
Last week Teva CEO, Erez Vigodman said, “If the Mylan Pharmaceuticals shareholders support the acquisition of Perrigo, Teva will abandon its bid for Mylan.”
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