Teva Pharmaceuticals Hopes $40 Billion Mylan Deal Will Fuel Stock Rebound
ByIn the red hot market for pharmaceutical deal-making it’s either eat or be eaten. That’s the case with Teva Pharmaceutical’s $82 a share cash and stock bid for generic competitor Mylan MYL +8.91%, a direct challenge to Mylan’s near $30 billion takeover bid for Perrigo , unveiled on April 8.
The question now is whether Mylan’s board of directors and its stockholders will cast their lot with Teva Pharmaceuticals, a company that’s seen its stock dramatically underperform the S&P 500 Index over the past five years, or whether they will continue to support a management team led by CEO Heather Bresch that’s driven a near 250% share price increase since the beginning of 2012, outperforming the S&P’s 66% return…
Teva Pharmaceuticals Hopes $40 Billion Mylan Deal Will Fuel Stock Rebound
