Mylan confirms $33bn formal bid for Ireland's Perrigo
Pharmaceutical group Mylan has confirmed it will make a formal bid worth $33bn (£21.8bn) in cash and stock for drug-making firm Perrigo.
Mylan Inc.
$0.00
19:30 08/12/22
Nasdaq 100
17,526.80
12:15 24/04/24
Mylan, which has corporate headquarters in Potters Bar, Hertfordshire, but it incorporated in the Netherlands and operates out of Pittsburgh, Pennsylvania, said the offer consisted of $60 in cash and 2.2 of its shares for each share of Perrigo.
The offer would therefore value New York-listed Perrigo at approximately $222 a share, having begun 2015 at roughly $167.
Mylan, which recently rebuffed a takeover approach from Israeli pharmaceutical giant Teva, had approached the Irish firm earlier this month but Perrigo has so far rejected the advance.
As of 15:32 London time on Friday, Mylan shares were up 2.38% to $75.44, while Perrigo shares were down 2.02% to $197.55.