Should Tax Payer Money Be Used By The Government To Defend A Foreign Company?

Lean Left

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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