The Acquisition Battle Continues with Another Perrigo Rejection
Perrigo rejected Mylan’s second proposal for an acquisition valued at more than $34 billion, saying that the offer was too low to consider.
On April 29, 2015 Mylan announced that it would up its offer to Perrigo from its original offer on April 8 of approximately $29 billion to more than $32 billion. However, on the same day, Perrigo rejected the offer stating that the value was too low to consider and urging shareholders to take no action. This announcement is one of a series of acquisition rejections between Teva, Mylan, and Perrigo. Mylan formally rejected Teva’s $40 billion acquisition proposal in a smoldering letter to the CEO on April 27, only two days prior.
“Based on Mylan’s unaffected price of $55.31 per share on March 10, 2015, the last day of trading prior to widespread public speculation that Teva was considering an offer for Mylan, the value of the revised offer is $202.20 per Perrigo share,” Perrigo said in a press release.
Source: Perrigo
Drug Solutions Podcast: Gliding Through the Ins and Outs of the Pharma Supply Chain
November 14th 2023In this episode of the Drug Solutions podcast, Jill Murphy, former editor, speaks with Bourji Mourad, partnership director at ThermoSafe, about the supply chain in the pharmaceutical industry, specifically related to packaging, pharma air freight, and the pressure on suppliers with post-COVID-19 changes on delivery.
