Migdal: Mylan has less leverage to buy Perrigo - (Globes via NewsPoints Desk)

  • Now that Teva decided to abandon its Mylan takeover in favour of acquiring Allergan's generic division, Migdal Capital Markets believes that Mylan's bid for Perrigo for $32 billion may not go through, reported Globes.
  • According to analyst Steven Tepper, "Mylan has less leverage now…it wanted to acquire Perrigo on the basis of a share value inflated by the Teva offer, and now it cannot do this."
  • He added that "with a share at $50, say, Mylan will have to significantly dilute its shareholders in order to acquire Perrigo."

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