Meda Rejects Mylan’s Proposal for Possible Combination of the CompaniesBy
The Swedish specialty pharmaceutical company Meda has rejected a proposal by Mylan Inc for a possible combination of the two companies.
“The Board hereby confirms that it has been contacted by Mylan, Inc. (“Mylan”) regarding a revised non-binding indicative interest to combine the two businesses. The Board has convened and has decided to reject the proposal. All contacts between Meda and Mylan have been terminated without further actions. The Board's decision is based on a strong belief in the continued potential of Meda as a stand-alone company and the assumption that a transaction cannot be completed as it lacks sufficient support from Meda's largest shareholder,” said the company in a statement issued Apr. 28, 2014.