Meda may see Mylan increase offer - report (translated)
Meda may see Mylan make a higher offer for the Swedish pharmaceutical company after yesterday’s rejection, according to Dagens Industri. The Swedish business daily reported that Meda saw its share price rise by around 14% yesterday to SEK 110.5 (EUR 12.3) despite rejecting Pennsylvania-based generic pharma company Mylan’s offer, valuing Meda at SEK 33bn (EUR 3.7bn). The paper wrote that the price increase indicates that the market is expecting Mylan to make a better offer or the possibility of a new bidder.
The paper wrote, without citing any named sources, that Mylan was looking to pay for Meda mainly by shares which is one likely reason for Meda’s rejection. The paper reported, however, that Mylan saw its share price rise by 6% yesterday which could fuel the American company’s interest to increase its offer.
Meanwhile, Martin Niklasson, a Swedish professional within the pharma industry, commented that he sees Mylan’s offer as a possible way to reduce its taxes. An unnamed source from the sector said Mylan is interested in Meda’s strong product portfolio, which would strengthen the company’s position in the value chain. He added that the combination of the two companies would not enjoy any synergies.
Source Dagens Industri