Perrigo rises on Mylan bid

Perrigo Co. plc (NYSE:PRGO; Tel Aviv: PRGO) jumped $30.29 (18%) to $195 in New York after generics maker Mylan N.V. (NASDAQ:MYL) announced a bid to acquire it for $205 per share, or $28.9 billion. The proposed price represents a 24% premium to Perrigo's close of $164.71 on Tuesday. According to Mylan, the combined companies would have posted $15.3 billion in pro forma sales during 2014.

Goldman Sachs is advising Mylan; Cravath, Swaine & Moore is its counsel. ...