Business Irish

Sunday 22 July 2018

Mylan moves on Perrigo bid

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.

Irish Independent

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