Mylan Offers $31.2 Billion for Perrigo in Bid to Thwart Teva

April 24, 2015 2:51 PM

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Mylan NV went forward with a hostile $31.2 billion bid for fellow drugmaker Perrigo Co., opting to continue the pursuit rather than accept a takeover offer from Teva Pharmaceutical Industries Ltd.

The tender offer would exchange $60 in cash and 2.2 Mylan shares for each share of Perrigo, according to a statement. That amounts to $222.12 a share based on Mylan’s closing price Thursday -- 10 percent above the price of Perrigo’s stock the same day. Perrigo had rejected an earlier proposal of $20...

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