Mylan rejects Teva Pharmaceutical's takeover bid

April 27, 2015 4:05 PM

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Mylan today rejected Teva Pharmaceutical Industries’ unsolicited takeover proposal, saying it “grossly undervalues” Mylan, would give Mylan shareholders “low-quality, high-risk” Teva stock, and expose Mylan shareholders “to a problematic culture and leadership.”

“We do not wish to make Teva’s problems Mylan’s problems, or to inflict them on Mylan’s shareholders and other stakeholders,” Mylan chairman Robert Coury wrote in a letter to Teva CEO Erez Vigodman.

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