BioCentury
ARTICLE | Company News

Teva bids $40.1B for Mylan

April 22, 2015 2:19 AM UTC

Mylan N.V. (NASDAQ:MYL) rose $6.03 to $74.07 on Tuesday after Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) proposed to acquire the company for $82 per share, or $40.1 billion in cash and stock. Teva's offer is a 23% premium to Mylan's close of $66.83 on April 16, before Mylan released a statement addressing rumors of a possible takeout.

In its April 17 statement, Mylan said the two generics businesses have "significant overlap" and the combination would likely violate anti-trust regulations. Teva on Tuesday said the combined company would benefit from a "more efficient and advanced infrastructure" and would have the "broadest portfolio in the industry." Mylan did not respond to inquiries. Teva declined to comment on potential anti-trust issues. ...