Mylan Makes Biggest Bid Yet: $29 Billion For Perrigo

April 8, 2015 11:24 PM

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Mylan Makes Biggest Bid Yet: $29 Billion For Perrigo

Generic-drug giant Mylan announced Wednesday that it had bid $205 a share in cash and stock for sizable peer Perrigo, sending both stocks soaring. Although Perrigo (NYSE:PRGO) hadn't agreed to a deal, Mylan (NASDAQ:MYL) indicated that the two had been talking.

"This proposal is the culmination of a number of prior discussions between Mylan and Perrigo about the compelling strategic and financial logic of this combination," Mylan Executive Chairman Robert Coury said in a release. "This combination would result in meaningful immediate and long-term value cr...

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