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Mergers & Acquisitions

Mylan’s hostile bid for Ireland-based drugs giant Perrigo likely to fail

Generic drug maker Mylan $26bn hostile bid for peer Perrigo looked unlikely to succeed, a few hours before it was set to expire, a person familiar with the matter said.


(L-R) Robert J Coury,   Mylan and Josegh Papa,   Periggo


If confirmed, the outcome would represent a major victory for Perrigo’s defiant Chief Executive Joseph Papa, and a bitter blow to Mylan’s Executive Chairman Robert Coury, who snubbed an acquisition offer from Teva Pharmaceutical Industries to pursue Perrigo.

Around 40pc of Dublin-based Perrigo’s ordinary shares had been tendered ten hours before the tender offer was due to expire on Friday, significantly short of Mylan’s acceptance threshold of more than 50pc, the people said.

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While more shares could still be tendered, many large institutional investors would have tendered their shares at this stage if they were going to accept the offer, the people added.

Read the full story at Reuters, by Greg Roumeliotis


(L-R) Robert J Coury,   Mylan and Josegh Papa,   Periggo

Perrigo Company Plc, the Irish-based generic drugmaker trying to fend off a hostile bid by Mylan NV, held unsuccessful talks to acquire Endo International Plc in an all-stock deal, according to people More…


(L-R) Robert J Coury,   Mylan and Josegh Papa,   Periggo

Under the settlement agreement with the Federal Trade Commission, subject to final approval, Mylan NV has agreed to sell the rights and assets related to seven generic drugs to secure regulatory approval of More…

(L-R) Robert J Coury,   Mylan and Josegh Papa,   Periggo

Shares in the U.S. generic drugmaker Mylan will begin trading on the Tel Aviv Stock Exchange Wednesday, the TASE said Monday. The move comes after Mylan last week won an Israeli court ruling rejecting Perrigo’s More…

(L-R) Robert J Coury,   Mylan and Josegh Papa,   Periggo

Mylan N.V., which made a hostile takeover bid for Perrigo Co., said Friday that a U.S. District court denied Perrigo’s attempt to block the potential closing of Mylan’s proposed offer before shareholders. The More…

(L-R) Robert J Coury,   Mylan and Josegh Papa,   Periggo

Perrigo, which is the target of a hostile takeover bid by Mylan, said Thursday that it would reduce its workforce by approximately 800 employees, or approximately 6 percent of its current global headcount. More…

(L-R) Robert J Coury,   Mylan and Josegh Papa,   Periggo

The hostile takeover bid for Perrigo Co. PLC continues with Mylan NV hosting a Tuesday,  5 pm,  conference call to pitch the buyout to Perrigo shareholders. Perrigo has rejected the $27 billion buyout offer,  More…

(L-R) Robert J Coury,   Mylan and Josegh Papa,   Periggo

Mylan N.V. on Monday announced that it has officially took its $27 billion takeover bid directly to shareholders of Perrigo Company plc (NYSE: PRGO; TASE). In April 29th Mylan made the same offer, then More…


Trying to fend off a hostile takeover attempt by Mylan’s $27 billion bid, Perrigo Chairman, President and CEO Joseph Papa sent a letter to Mylan Executive Chairman Robert Coury to ‘clarifying More…

(L-R) Robert J Coury,   Mylan and Josegh Papa,   Periggo

Mylan N.V. (NASDAQ: MYL) shareholders have approved Mylan’s proposed acquisition of Perrigo Company plc (NYSE: PRGO; TASE). The transaction received the approval of two-thirds of the votes cast at the extraordinary More…

(L-R) Robert J Coury,   Mylan and Josegh Papa,   Periggo

Perrigo Company plc (NYSE: PRGO; TASE) today responded to the announcement that Mylan N.V. has lowered the acceptance condition for its proposed unsolicited offer to acquire Perrigo from not less than 80% More…

Robert-J-Coury-1 Mylan

Generic pharmaceutical company Mylan N.V. (MYL) today officially announced a reduction in the approval requirement for the Perrigo Company (NYSE:PRGO; TASE:PRGO) deal from 80% to 50%. This means that under More…




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