Israeli shareholder Arkin rejects Mylan Perrigo bid

Mori Arkin
Mori Arkin

Mori Arkin is a former vice chairman of Perrigo who holds a 0.5% stake in the company.

Mori Arkin, who served as deputy chairman of Perrigo Company (NYSE:PRGO; TASE:PRGO) after selling Israeli company Agis Industries to Perrigo 10 years ago for $850 million in cash and shares, says he will vote against Mylan's $27 billion bid at next week's shareholders meeting. Arkin still holds a 0.5% stake in Perrigo, having originally held a 10% stake. Today he is managing partner of Sphera Global Healthcare Fund, which invests in medical device and biotech companies. Arkin told "Reuters," "Usually, when a good company is acquired, it is for a significant premium. In our case, it's negligible, if at all. If we wait a few months, we would have the same price without all the hassle and risk involved in a Mylan deal."

Mylan will make an official offer for Perrigo on Monday.

Israeli institutional investor Meitav DS also said that it would vote against accepting Mylan's bid.

Published by Globes [online], Israel business news - - on September 11, 2015

© Copyright of Globes Publisher Itonut (1983) Ltd. 2015

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