On Heels Of Rejection, Mylan Gets Letter From Teva

MarketWatch Pulse

On the heels of being rejected in its attempt to merge with a rival, Mylan N.V. got a letter Wednesday afternoon from its own would-be suitor, Teva Pharmaceuticals International Inc. , laying out the case for a Teva-Mylan combination. Teva Chief Executive Erez Vigodman wrote to Mylan Executive Chairman Robert Coury, calling for Mylan to stop "mudslinging" in its attempts to avoid a merger with Teva. Vigodman also said Coury overstated regulatory hurdles in his letter to Teva earlier this week, which had questioned whether the $43 billion deal would be able to go through. The letter came hours after Mylan made a third offer for Perrigo Co. for more than $34 billion, which was rejected. The corporate love triangle pitting Mylan in the middle at least boosted the company's shares more than 2% to $74.50. Teva added more than 1% to $62.08 while Perrigo dipped nearly 1% to $184.74.

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