In order to take the advantage of the prevailing market conditions, Teva Pharmaceutical Industries Ltd (ADR)(NYSE:TEVA) has been trying for a long time to acquire Mylan N.V. The company once again revealed on Tuesday its latest attempts to convince the management of Mylan to think about its acquisition proposal.
What Lies Ahead:
Teva has proposed a takeover totaling $82 per share to Mylan, but the latter hasn’t taken any final decision yet. Teva noted in a statement that the offer given to Mylan was attractive for both Mylan as well as Teva shareholders. Teva, an Israel-based company, looks forward to meeting the Mylan and all of its advisors immediately. If Mylan takes this proposal into account, both the firms can make a strong combined entity that makes financial, strategic and cultural sense.
Teva Pharmaceutical Industries Ltd (ADR)(NYSE:TEVA) is quite optimistic about this deal and feels that all the antitrust and regulatory issues can be sort out in the current year itself. Even though Teva has been eagerly following up with Mylan, but the company doesn’t look interested in its bid. As per the reports, Mylan refused to accept Teva’s offer and gave a thought to the offer of more than $34 billion proposed by Perrigo Co. Teva and Mylan haven’t cleared their stand on this issue yet.
As soon as the announcement by Teva came in the market, Teva’s shares rose by 0.1% while Milan shares elevated 0.5% in intra-day trading. Market experts are not able to get a clear idea from the initial responses given by both the firms. The situation looks like Mylan wants to get acquired by a company that can pay it the highest sum. It is not concerned about any particular company. As per the information, the exact picture will be clear within the next couple of weeks.