There has been a new twist in the three-way hostile takeover battle in which Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) has bid $41 billion for Mylan NV, while Mylan has bid $32.7 billion for Perrigo Company (NYSE:PRGO; TASE:PRGO). Mylan Executive Chairman Robert Coury told investors last week that while his company is unwilling to sell itself to Israeli rival Teva, it would consider buying that company down the road, "Reuters" reports.
Mylan CEO Heather Bresch explained to "Reuters" in an interview the logic behind Coury's comments. Mylan has a better management team and integrated global supply chain, as well as a superior track record with acquisitions. That would make it more capable than Teva to lead the potential combined company, she said.
A deal could make sense following a Mylan-Perrigo combination and more time for Teva's management to "clean up" the company.
"We were just saying in a hypothetical situation, if it ever were to happen after all these other things, the only way it could happen is with us," Bresch said. She added antitrust concerns would still exist.
The investor sources declined to be named because they are not authorized to speak with the media, "Reuters" added.
Published by Globes [online], Israel business news - www.globes-online.com - on May 10, 2015
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