Mylan Announces Results of Offer to Acquire Perrigo and Lapse of Offer
Shares of over-the-counter drugmaker Perrigo sank early Friday after its stock owners rejected a hostile, $26 billion takeover bid from Mylan.
Mylan was unsuccessful in its attempt to convince more than 50 percent of Perrigo to sell in a tender offer, which expired at 8:00 a.m. ET. Perrigo will aggressively buy back stock at the start of trading, sources told CNBC.
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