Teva ratchets up its M&A pressure on Mylan with larger stake

Teva ($TEVA) has upped its Mylan ($MYL) stake yet again--this time, passing a critical threshold that could help it pose a legal challenge to its generics rival. The Israeli drugmaker has amassed a stake of 4.61%, earning it the right to initiate proceedings before the Dutch Enterprise Chamber, it said in a Friday statement. And if Mylan holds its meeting regarding its takeover try for Perrigo ($PRGO)--a deal that could thwart Teva's efforts--before September, Teva will limit its Mylan shareholding below 5%. More

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