logo-loader

Perrigo urges shareholders to turn down Mylan’s hostile bid

Last updated: 16:26 17 Sep 2015 EDT, First published: 14:26 17 Sep 2015 EDT

acquisition_b_350_55fb06b170563
Perigee says Mylan's offer undervalues the company.

The board of directors of Perrigo, an Irish drug maker, urged its shareholders on Thursday to reject a hostile bid from Mylan (NASDAQ:MYL), a generic drug maker.

Perrigo said he $27bn offer undervalued the company.

Hatfield, Alabama-based Mylan first offered to buy Perrigo in the spring and was consistently rebuffed. 

It took its takeover bid directly to investors on Monday, offering to pay $75 a share in cash and 2.3 of its shares for each share of Perrigo.

Perrigo said in a statement that the latest offer did not adequately compensate shareholders for its “exceptional stand-alone growth prospects.”

 

Caledonia Mining tackles 2023 challenges with optimism for 2024 as it...

Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL) chief executive Mark Learmonth tells Proactive's Stephen Gunnion the company faced a challenging 2023, primarily due to poor production in the first half of the year at its core asset, the Blanket Mine in Zimbabwe, and an underperformance...

14 minutes ago