Let me tell you a little story. There is a generic drug manufacturer outside Pittsburgh, PA called Mylan. This company is now facing a hostile takeover bid from an Israeli company Teva. It seems that Teva has started purchasing Mylan stock. They have already purchased 5% of Mylan’s outstanding stock.
Mylan is now asking the Federal Trade Commission (FTC) to look into the matter. You see, there is a provision that says when large stock purchases of U.S. companies are made, those purchases must be reviewed by anti-trust authorities. Sounds reasonable, we don’t want our companies to fall to hostile takeovers by foreigners.
But, there is a problem with the request from Mylan. You may not recognize the name of the company, but earlier this year, Mylan went ahead with the purchase of a small drug company in the Netherlands. Once that purchase was completed, Mylan announced that it was…
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