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 familiar with the matter.
The negotiations show how Perrigo has been on the M&A prowl seeking to present its shareholders with an alternative to a deal with Mylan, as well as its willingness to walk away if it cannot reach terms that it considers to be attractive.
The talks earlier this fall, first reported on by the Wall Street Journal, were advanced enough for major issues such as the role of Endo’s chief executive Rajiv De Silva and how the companies could be integrated to have been addressed, the people said on Thursday.
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Read the full story at Reuters, by Greg Roumeliotis and Carl O’donnell
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