BREAKING NEWS

Teva Pharmaceuticals working on billon dollar bid to take over Mylan

By GLOBES

APRIL 21, 2015 17:35

Bloomberg reports that Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) could publish a bid for its US rival Mylan Inc. (MYL) today, in what could turn out to be the largest deal of the year in pharmaceuticals.

Citing sources familiar with the matter, Bloomberg says that Teva is working with Barclays Bank on a takeover bid for Mylan, which has a current market cap of $33.3 billion, and is in touch with other banks on finance for such a deal.

According to the report, Teva is working on the final stages of a bid, although it is possible that in the end the move will not go ahead.

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