mylan foundation to block israels teva hostile takeover bid
Last Updated : GMT 02:57:08
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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, a US company
The Hague - AFP

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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