BioCentury
ARTICLE | Company News

M&A roundup: Teva/Mylan, Aerocrine, Swedish Orphan

April 28, 2015 1:23 AM UTC

The board of Mylan N.V. (NASDAQ:MYL) unanimously rejected an unsolicited bid from Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) to acquire the company for $82 per share, or $40.1 billion in cash and stock. Mylan said the offer "grossly undervalues" the company, reiterated concerns that the combination may violate anti-trust regulations, and stood by its existing offer to acquire Perrigo Co. plc (NYSE:PRGO; Tel Aviv:PRGO), which Perrigo has rejected. Teva said it remains committed to its offer, which it said is contingent on Mylan not acquiring Perrigo. Mylan dipped $4.34 to $71.72 on Monday, while Teva lost $2.78 to $61.63 and Perrigo shed $4.61 to $188.28 in New York amid a broader selloff for biotechs.

Swedish Orphan Biovitrum AB (SSE:SOBI) rose SEK21.70 (19%) to SEK133.40 after confirming it received a takeover bid from an undisclosed company. Swedish Orphan has partnerships with Pfizer Inc. (NYSE:PFE) and Biogen Inc. (NASDAQ:BIIB) in hemophilia. Pfizer and Biogen declined to comment on the takeover bid. ...