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Mylan Board Unanimously Rejects Takeover Bid as Too Low

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Mylan Board Rejects $40.1B Teva Takeover Bid

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Mylan NV’s board unanimously rejected a $40.1 billion takeover offer from Teva Pharmaceutical Industries Ltd., saying it’s too low and doesn’t address the difficulties of combining companies with different cultures.

The board won’t consider talks to sell the company unless it gets an offer of significantly more than $100 a share, Mylan said in a statement Monday. Teva offered $82 a share in cash and stock for Mylan last week.