Meda up after rejecting Mylan bid

Specialty pharma company Meda AB (SSE:MEDAA) jumped SEK13.70 (14%) to SEK110.60 on Friday after disclosing that its board rejected a proposal from generics company Mylan Inc. (NASDAQ:MYL) to "combine the two businesses." Meda makes specialty products, OTC drugs and branded generics. The company had 2013 net sales of SEK13.1 billion ($2 billion). Mylan had 2013 revenues of $6.9 billion. Both companies declined to disclose details. ...