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Fly News Breaks for March 11, 2015
TEVA, MYL
Mar 11, 2015 | 11:42 EDT
After speaking with Teva (TEVA) management, BMO Capital says today's rumor of a possible Mylan (MYL) buyout is "untrue and baseless." Teva management pointed out the rumor has proven untrue each time it surfaced over the past year, according to BMO. Outside of Teva's comments, the firm views the speculated deal as "highly improbable" given the "significant corporate cultural differences, regulatory challenges, and financial hurdles." Shares of Mylan are off their highs but remain up 5%, or $2.65, to $57.96 in midday trading. Takeover speculation of Mylan by Teva resurfaced shortly after today's opening bell, market participants told The Fly.
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