Fly News Breaks for April 30, 2015
MYL, TEVA
Apr 30, 2015 | 08:26 EDT
Oppenheimer believes that Teva's (TEVA) letter in response to Mylan's (MYL) rejection of its takeover bid was "classy." The firm thinks the nature of Teva's letter indicates that the company is much more committed to pursuing a takeover of Mylan than the firm previously thought. Oppenheimer believes that the letter also makes a persuasive appeal to Mylan shareholders about Teva being a better option for them than Perrigo (PRGO). Oppenheimer keeps a $77 price target and Outperform rating on Teva.
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