Live Update 
From the Liveblog of
Thursday, July 23, 2015
From the Liveblog of
Thursday, July 23, 2015
Spanner in works for Teva hostile takeover
Add ToI as a Preferred Source on GoogleIt appears that Israeli pharmaceutical giant Teva has a battle on its hands in its hostile takeover of Dutch-based American rival Mylan.
Mylan’s independent foundation says it will exercise a call option allowing it to buy shares to control half the company in order to thwart the Teva maneuver. Mylan is a mass producer of generic drugs, and claims that one in 13 of all prescriptions in the US is filled by one of its products.
The American company’s foundation “formed its independent judgment that Mylan’s best interests are at risk as a consequence of the uncertainty and threats associated by a possible takeover by Teva,” says a Mylan statement.
Teva also tried unsuccessfully to acquire Mylan in April.
— AFP
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