Perrigo Rejects Mylan’s Increased $32.7 Billion Takeover Bid

Mylan Raises Offer for Perrigo

Perrigo Co. rejected Mylan NV’s increased acquisition offer of $32.7 billion in cash and stock, putting pressure on Mylan to raise the bid further.

Mylan’s offer Wednesday of $75 in cash and 2.3 shares for every share of Perrigo is still too low, valuing the company at $202.20 a share based on Mylan’s stock price on March 10, Perrigo said in a statement. The new bid compared with last week’s offer of $60 in cash and 2.2 shares.

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