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Fly News Breaks for April 22, 2015
PRGO, TEVA, MYL
Apr 22, 2015 | 08:42 EDT
after Teva (TEVA) offered to buy Mylan (MYL) for $82 per share, Bernstein expects Mylan to seek an offer closer to $90. The firm also expects Mylan to seek shared management and perhaps some protection for its employees. Bernstein expects Teva to attempt to convince Mylan shareholders of the merits of its offer and Mylan to attempt to convince Perrigo (PRGO) shareholders of the merits of its offer and its own shareholders of the risks associated with the Teva deal. Bernstein keeps Outperform ratings on Teva and Mylan.
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