Teva Pharmaceutical Industries Ltd. made an unsolicited offer Tuesday to buy rival generic drugmaker Mylan NV for $40 billion.
The $82 per share offer — a 21 percent premium over Mylan’s closing price Monday — calls for half the money to come in cash and the other half in Teva stock.
“The proposed combination of Teva and Mylan would create an industry-leading company, well positioned to transform the global generics space,” Teva CEO Erez Vigodman stated in a letter to Mylan Executive Chairman Robert J. Coury. “We firmly believe that a combination of Teva and Mylan is a much more attractive and value-creating alternative for Mylan and its stockholders than Mylan’s proposed acquisition of Perrigo.”
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