Information Provided By:
Fly News Breaks for April 9, 2015
TEVA, PRGO, MYL
Apr 9, 2015 | 06:15 EDT
Citigroup says Mylan's (MYL) proposed acquisition of Perrigo (PRGO) does not make obvious strategic sense given Mylan's lack of presence in the over-the-counter space. Citi notes, however, that a combination would give Myla diversification away from EpiPen and a higher organic growth profile. The firm believes Perrigo's Irish domicile may increase the probability of a potential takeover by Mylan since it can't adopt a poison pill. It also thinks Mylan's approach to Perrigo was catalyzed by shareholder pressure to sell the company, potentially to Teva (TEVA). Citi does not view Teva as a potential bidder for Perrigo. It does believe, however, that Mylan's move could force Teva to make a bid for Mylan if it is interested in acquiring the company. Citi has a Neutral rating on Mylan with a $54 price target.
News For MYL;PRGO;TEVA From the Last 2 Days
There are no results for your query MYL;PRGO;TEVA