$40B deal: Teva offers to buy Mylan

April 21, 2015 2:46 PM

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Generic drug giant Teva is offering to buy rival Mylan for $40.1 billion in cash and stock in what would be the industry's largest merger this year.

Israeli-based Teva said it will pay $82 a share in the unsolicited bid. The company said that represents a 48.3% premium compared to Mylan's stock price on March 10, the last trading before speculation of a link-up between the two companies.

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