mylan foundation to block israels teva hostile takeover bid
Last Updated : GMT 10:25:43
Arab Today, arab today
Arab Today, arab today

Mylan foundation to block Israel's Teva hostile takeover bid

Arab Today, arab today

Arab Today, arab today Mylan foundation to block Israel's Teva hostile takeover bid

Mylan
The Hague - Arab Today

Dutch-based US pharmaceutical giant Mylan's independent foundation said Thursday it will excercise a call option allowing it buy shares to control half the company in fending off a hostile takeover bid by Israeli rival Teva.

The foundation "formed its independent judgement that Mylan's best interests are at risk as a consequence of the uncertainty and threats associated by a possible takeover by Teva," Mylan said in a statement.

Mylan, a US company that moved to the Netherlands a year ago for fiscal reasons, had dismissed Teva's earlier bid in April.

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