Perrigo Sues to Halt Mylan's $27.1B Hostile Bid

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Sept. 18 — Perrigo Co. has filed a lawsuit seeking to stop Mylan NV's hostile bid to acquire Perrigo for $27.1 billion. Mylan disseminated offering materials to Perrigo shareholders and made other statements in connection with its tender offer that “contained false and misleading disclosures,” in violation of federal securities laws, Perrigo alleged in a complaint in the U.S. District Court for the Southern District of New York. Perrigo asked the court to bar Mylan from closing the tender offer until Mylan issues “full and complete corrective disclosures, including giving Perrigo shareholders adequate time to review and consider the corrective disclosures.” Perrigo shareholders have until Nov. 13 to decide whether to take Mylan's offer of $75 in cash and 2.3 Mylan shares for each Perrigo stock they own (Perrigo Co. LLC v. Mylan N.V., S.D.N.Y., No. 15-cv-7341, complaint filed 9/17/15).