Market Overview

Mylan: There's No Logic In The Teva Merger Rumor

Share:
Related MYL
Watch These 8 Huge Call Purchases In Friday Trade
Benzinga's Option Alert Recap From February 23
Will Mylan, Glaukos, Supernus Live Up To Q4 Growth Views Next Week? (Investor's Business Daily)
Related TEVA
Breaking Down The Multiple Sclerosis 2017 Formularies: 'Stability Fares Well For The Market'
The Market In 5 Minutes
Truxima Fires The Starting Gun In Biosimilar Race To The Bottom (Seeking Alpha)

Mylan NV (NASDAQ: MYL) tried to pour cold water on a report Friday it might be acquired by Teva Pharmaceutical Industries Ltd (NYSE: TEVA).

But Mylan jumped more than 4 percent recently to $69.70.

Mylan Executive Chairman Robert J. Coury said a merger with Teva would be "without sound industrial logic or cultural fit."

Coury added that such a deal would probably be blocked by antitrust regulators.

Related Link: Why The Mylan 'Love Triangle' Could Benefit Investors

If any offer materialized, however, Coury said Mylan's board "would carefully consider it," acting in the best interests of Mylan and its shareholders.

Citing unnamed sources, Bloomberg said earlier that Teva is deliberating whether to make an offer.

Mylan's April 8 unsolicited $28.9 billion offer for Perrigo Co. (NYSE: PRGO) is viewed by some investors as an incentive for Teva to make a bid.

Posted-In: News M&A

 

Related Articles (MYL + PRGO)

View Comments and Join the Discussion!