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Mylan Raises Offer to Acquire Perrigo to $32.7 Billion

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Mylan Raises Offer for Perrigo to $75 a Share

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

Mylan on Wednesday offered $75 in cash and 2.3 shares for every share of Perrigo. Perrigo said that was still below Mylan’s original proposal of $205 per share, because the cash-and-stock bid relies on shares inflated by separate takeover interest in Mylan from Teva Pharmaceutical Industries Ltd.