Is Mylan Inc. (MYL) Offering Up to $2 Billion for Strides Arcolab Limited Injectables Unit?
2/15/2013 7:26:27 AM
Three highly placed sources have shared that Strides ArcolabBSE -1.30 % and Mylan are in exclusive talks for the deal on Strides' injectables unit, Agila Specialties. Sources have indicated that Mylan's offer is close to $2 billion. The exclusivity period is short-term in nature and the senior officials of Mylan have been visiting India frequently for the negotiations. PfizerBSE -1.15 % had been in advanced talks with Strides Arcolab for the deal at $1.88 billion, but the talks have stalled on valuation mismatch between the buyer and the seller. However, Pfizer and NovartisBSE -0.96 % are still in the fray for the deal.