Another Mylan Hostile Takeover Bid of Perrigo Underway

ALLEGAN, MI (WHTC) – Mylan has begun its latest hostile takeover bid of fellow generic drug maker Perrigo by directly offering to shareholders of the Irish-based pharmaceutical company 75 dollars in cash and 2.3 shares of Mylan stock for each outstanding Perrigo share. The Dutch firm claims that it would seize control by purchasing just 55 percent, while Perrigo officials at the operational base in Allegan are telling its shareholders to take no action until this latest offer is reviewed by them over the next two weeks.