Mylan moves on Perrigo bid
Published 14/08/2015 | 02:30
Mylan has lowered the acceptance threshold on its $34bn hostile bid to buy Irish-headquartered drugmaker Perrigo to 50pc from a minimum of 80pc.
Mounting a takeover offer directly to shareholders after securing a 50pc stake is allowed under Irish takeover rules.
"Mylan remains fully committed to completing the acquisition of Perrigo and today's action even further demonstrates this commitment," Mylan Chairman Robert J Coury said in a statement yesterday.
His own firm is fighting a takeover offer from Israeli rival Teva.