Mylan Makes New Bid for Perrigo

Mylan has announced a fresh $27.14 billion offer for generic drug and ingredients maker Perrigo.

The Ireland-based drugmaker previously rejected several offers from its Netherlands-domiciled rival – both are former US companies that relocated abroad for tax reasons. Mylan now plans to take the offer directly to shareholders. Perrigo said in August it was confident its shareholders would reject Mylan's overtures.

Mylan’s new cash-and-stock bid values Perrigo at about $185.52 per share, a premium of about 4% on the Sept. 4 closing price. The company initially offered to buy Perrigo in April of this year for $205 per share, later upping the ante to $232.23 per share, or $34.1 billion.

At the time of the first bid, Mylan was being pursued by Israeli generics giant Teva. The Israeli firm in the interim switched its target, agreeing to buy Allergan’s generic drug business for $40.5 billion.

Free Expert Insights

Dual‑Targeting Breakthroughs
Advancements in Bispecific Antibody Development

Dual‑Targeting Breakthroughs

Unlock the latest breakthroughs in bispecific antibody development! Download Wiley’s free Expert Insights eBook to explore cutting-edge dual-targeting strategies, advanced purification methods, and bioanalytical technologies transforming immunotherapy and cancer treatment.

Special Issue

Circular Plastics Economy
Explore the Future of Plastics

Circular Plastics Economy

This special CHEManager issue explores the industry’s pivotal shift towards a more sustainable, circular plastics value chain. Readers will find expert analysis and real-world solutions for today’s most pressing recycling and regulatory challenges.

most read