ALLEGAN, MI (WHTC) – Perrigo officials remain confident that a hostile takeover attempt by rival Generic products manufacturer Mylan will be unsuccessful.
On Friday, Mylan shareholders approved spending 35.6 billion-dollars to buy Perrigo. The Dutch firm will approach Perrigo Stockholders with a new offer in the next few weeks.
All they need is a majority of the shareholders to agree in order to absorb the company, which is a major Allegan County employer. Perrigo has consistently resisted Mylan’s takeover efforts, saying that previous offers have been too low to consider.
Market watchers say the continuing consolidation of generic pill makers is driving up the cost of generic drugs, as there is less and less competition in the industry.
