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Interviews with news makers and discussion of topics important to Southwest Michigan. Subscribe to the podcast through Apple itunes and Google. Segments of interview are heard in WestSouthwest Brief during Morning Edition and All Things Considered

WSW: The "Drama" of a Possible Take Over of Perrigo

Perrigo/Wikimedia Commons

MiBiz Senior Writer Mark Sanchez says moves and counter moves in an effort to take over Perrigo are likely to continue over the summer. 

So far Perrigo has rejected three offers from Mylan which wants to buy the pharmaceutical company. Sanchez says Perrigo is attractive because it has a good reputation for being well-run. It's also bought some other companies itself that have expanded its reach. Sanchez says Mylan has been trying to get a foot hold in the "over the counter medication" market. That's one of Perrigo's strengths. 

Sanchez says officials with Perrigo believe they are  in a good position to grow on their own. Perrigo has also said the offers from Mylan "undervalue" the company. But Mylan plans to continue pursuing a purchase of Perrigo. Sanchez says directors have a "fiduciary responsibility" to get the best value for shareholders. He says the offer from Mylan may reach a point that they have to take it to Perrigo's shareholders. 

At the same time that Mylan is pursuing Perrigo, Mylan is also the subject of an unsolicited offer from Teva Pharmaceuticals. Sanchez says that's adding to the "drama." Mylan has said that if it can buy Perrigo, it would create $800-million in "synergies." Sanchez says those savings would have to come from somewhere, and it's not clear what that could mean for Allegan where Perrigo still has a large presence. 

Gordon Evans became WMUK's Content Director in 2019 after more than 20 years as an anchor, host and reporter. A 1990 graduate of Michigan State, he began work at WMUK in 1996.
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