Perrigo rejects $205/share bid from Mylan

April 21, 2015 8:26 PM

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April 21 (Reuters) - Dublin-based Perrigo Company Plc said its board unanimously rejected a $205 per share offer from generic drugmaker Mylan NV, saying the bid substantially undervalued the company.

Perrigo said Mylan's offer did not take into account Perrigo's 2.48 billion euros ($2.66 billion) acquisition of Omega Pharma and new products that are expected to generate about $1 billion in revenue.

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