Mylan: There's No Logic In The Teva Merger Rumor
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.
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.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.