Mylan’s Successful Takeover Defense Against Teva’s $40 Billion Hostile Bid and Mylan’s $35 Billion Offer for Perrigo

On July 27, 2015, Teva Pharmaceutical Industries announced that it had withdrawn its previously announced hostile bid to acquire Mylan N.V. Cravath represented Mylan in this successful takeover defense.

On April 8, 2015, Mylan announced that it had made a proposal to acquire Perrigo Company plc in a cash‑and‑stock transaction. On September 14, 2015, Mylan announced that it had officially commenced its formal offer to acquire all outstanding ordinary shares of Perrigo. Cravath also represented Mylan in connection with this proposed transaction.

The Cravath team was led by partners Mark I. Greene, Aaron M. Gruber and Thomas E. Dunn and included associates Jacquelyn N. Arcati and Lee M. Blum on M&A matters; partner William V. Fogg on securities matters; partner George E. Zobitz and associate C. Daniel Haaren on banking matters; partners Stephen L. Gordon and J. Leonard Teti II and associate Kiran Sheffrin on tax matters; partner Eric W. Hilfers and associate Jonathan J. Katz on executive compensation and benefits matters; partner Christine A. Varney, practice area attorney Robin C. Landis and associate Margaret Segall D’Amico on regulatory matters; and senior attorney Kimberley S. Drexler on corporate matters.