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Case Study 2.1 – Mylan Thwarted in Hostile Takeover of Perrigo Case Study 2.1 Mylan Thwarted in Hostile Takeover of Perrigo Mergers and Acquisitions
2 Case Study 2.1 – Mylan Thwarted in Hostile Takeover of Perrigo Abstract This case study is about the takeover of the Perrigo Co., a maker of stone branded generic drugs by the leading generic pharmaceutical drug maker, Mylan NV. Mylan tried to do a hostile take over of Perrigo while Teva Pharmaceuticals tired to do the same with Mylan. Neither of them succeeded as Teva withdrew the bid and Mylan was not able to gather the shares to control Perrigo Co.
3 Case Study 2.1 – Mylan Thwarted in Hostile Takeover of Perrigo 1. What was Perrigo’s main defense against Mylan? Why was so much reliance given to this tactic? Speculate as to why shareholders accepted Perrigo’s board and management’s arguments. Perrigo’s main defense against Mylan was it’s shareholders. Even though Mylan offered the shareholders $75.00 per share and 2.5 share of Mylan, it was able to gather only 40% of shareholding. This tactic was given importance because the hostile takeover can be done by passing the company and directly offering to the shareholders. And if the shareholders are supporting Perrigo, then it is difficult for Mylan to carry a Hostile takeover. 2. How did corporate inversions undertaken by each firm impact the outcome of the hostile takeover attempt? Be specific.

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