Deals
Teva Makes $40.1 Billion Unsolicited Takeover Bid for Mylan
What Makes Mylan Worth $40.1B to Teva?
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Teva Pharmaceutical Industries Ltd. made an unsolicited offer to buy Mylan NV for about $40.1 billion, in the drug industry’s largest takeover attempt this year.
Teva, the world’s biggest maker of generic medicines, offered $82 a share in cash and stock, according to a statement. That’s about 23 percent above Mylan’s closing price April 16, the day before Bloomberg News reported Teva was considering a bid. Mylan, which says it makes about one of every 11 drugs prescribed to Americans, has said it wants to stay independent and that a combination with Teva would face antitrust hurdles.