Teva and Mylan Slug it out Over Takeover Bid

Israeli generics giant Teva appears to be seeking alternative strategies for achieving its targeted acquisition of Netherlands-based Mylan, following the company’s rejection of its informal $40 billion offer.
The news agency Reuters reports that Teva is planning to increase its stake in Mylan to 4.6% from initially 1.8%, which could drive the power struggle into a Dutch court. Since announcing the plans at the beginning of June, the Israeli company is said to have reached a shareholding of 2.2%.
As the plot grows murkier, reports say Mylan’s strategy is to contend that the equity increase violates antitrust US law, as Teva’s purchase of its shares exceeds a $76.3 million threshold.
This, the reports say, would cast doubt on its status of being a Dutch firm. Mylan is incorporated in the Netherlands after a 2014 corporate inversion, but also maintains offices in the US state of Pennsylvania and in the UK.
The two companies continue to slug out their dispute in public, with Mylan demanding that Teva declare its intentions. Teva has yet to make a binding offer as it is said to be awaiting US antitrust approval of its plans.
For Mylan’s executive chairman, Robert Coury, Teva has engaged in a pattern of making noncommittal, unclear inaccurate and non-specific statements to his company’s shareholders.
Reuters quotes people familiar with the matter as saying that a tender offer for Mylan would likely follow Teva's purchase of the additional shares. Other news reports also suggest that the Israeli company wants to muster the additional shares to use against Mylan’s plan to acquire Ireland-domiciled Perrigo for $32 billion.

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.

Innovation Pitch

The Start-up Platform for Chemistry & Life Sciences
Discover Tomorrow’s Innovators

The Start-up Platform for Chemistry & Life Sciences

CHEManager Innovation Pitch supports innovation in the chemistry and life sciences start-up scene. The platform allows founders, young entrepreneurs, and start-ups to present their companies to the industry.

most read

Photo
28.07.2025 • NewsChemistry

VCI Welcomes US-EU Customs Deal

The German Chemical Industry Association (VCI) welcomes the fact that Ursula von der Leyen, President of the European Commission, and US President Donald Trump have averted the danger of a trade war for the time being.