Mylan Bid for Perrigo May Make Both Drugmakers Targets: Real M&A - (Bloomberg via NewsPoints Desk)

  • Mylan's $28.9 billion bid for Perrigo may make both drugmakers takeover targets, Bloomberg reported Thursday.
  • The offer came less than a week after Mylan implemented its own provision to defend against an unwanted takeover.
  • "The most interesting thing about this deal is that shares of the buyer and seller -- and all the associated companies -- have gone up, which means the valuation isn’t at a level where people are concerned yet," said Sanford C. Bernstein & Co. analyst Ronny Gal.
  • "I think what happens next is the board of Teva will meet and decide whether they want to enter the fray," Gal added.
  • He further noted that Johnson & Johnson or health-products distributor AmerisourceBergen could take a look.
  • According to Albert Fried & Co.’s Sachin Shah, Valeant could probably afford to make the biggest offer, due to its tax-advantaged structure

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