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Mylan Inc. (MYL) Can't Take Hint, Meda AB (MEDA-A.ST) Rejects Second Takeover Offer


4/28/2014 8:06:49 AM

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Swedish drugmaker Meda (MEDAa.ST) has rejected an improved takeover offer from U.S. generics firm Mylan (MYL.O), saying it was confident in its future as an independent company and its biggest shareholder did not support the bid. The new all-stock offer was worth 145 crowns per share, a person familiar with the matter said on Friday, and follows a rejection by Meda's board earlier this month of a previous offer. Mylan's improved offer comes amid a flurry of recent healthcare deals, including medical device maker Zimmer Holdings Inc's (ZMH.N) $13.4 billion acquisition of rival Biomet, a $20 billion-plus asset swap between Novartis (NOVN.VX) and GlaxoSmithKline (GSK.L) and an offer by Canada's Valeant (VRX.TO) to buy Botox maker Allergan (AGN.N) for $47 billion.

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