Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) is talking with banks about raising $25 billion to back its takeover bid for Mylan (MYL), Bloomberg reported on Friday, citing sources close to the matter.
The financing will help Teva to raise its bid, after Mylan's board unanimously rejected the original $82 per share ($40.1 billion in total) that Teva offered, and said that no bid under $100 per share would be considered.
According to Bloomberg, Teva has not yet decided by how much to raise its bid. It says that the banks with which Teva is in contact are Barclays, Citi, HSBC, and Bank of America, and four others.
For its part, Mylan has made a bid of $32.7 billion for US-Israel pharmaceutical company Perrigo Company (NYSE:PRGO; TASE:PRGO), but Perrigo has rejected it.
Published by Globes [online], Israel business news - www.globes-online.com - on May 10, 2015
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