Papa, Perrigo Continue Efforts to Hold Off Mylan Hostile Takeover

ALLEGAN, MI (WHTC) – Perrigo CEO and President Joe Papa has issued a letter to company shareholders, going into detail efforts by fellow generic drug maker Mylan to stage a hostile takeover of the Irish-based firm that runs its operations in Allegan. Twelve days ago, Mylan made a 34 billion-dollar bid, offering 205 dollars per share plus swapping its own common stock, saying that they only need just over 50 percent of Perrigo shares, instead of more than 80 percent, to gain control.