Teva raises Mylan stake to 2.76 percent - (Globes via NewsPoints Desk)

  • Teva, which is accumulating shares in Mylan as part of its takeover efforts, disclosed that its stake in the Dutch drugmaker has risen to nearly 2.8 percent, Globes reported Wednesday.
  • Mylan previously rejected Teva's offer valued at about $40 billion and suggested that Teva's purchases of shares could violate US antitrust law, a charge Teva has denied.
  • Separately, a US court recently forced Teva to end its relationship with the law firm Kirkland & Ellis, which had been advising the Israeli company in its efforts to acquire Mylan.
  • In its ruling, the court determined that the law firm's prior relationship with Mylan created a conflict of interest.

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