“This week Mylan, based in the Netherlands, rejected a $40 billion bid from Teva, of Israel, arguing that it “lacks industrial logic”. To be on the safe side it has enacted a poison-pill defence against hostile takeover. Combining the world’s largest generic-drug maker, Teva, with the third-largest, Mylan, would create a company with around $30 billion in annual revenues and, Teva says, $2 billion in cost savings. As part of its plan to escape Teva’s clutches, Mylan has made three successive takeover offers to Perrigo, a smaller Irish rival, only to be spurned each time. Perrigo now seems likely to attract interest from other companies.”

The Economist, May 2nd 2015,
Generic drugs: Much ado about something
http://www.economist.com/news/business/21650151-worries-are-growing-about-effects-dealmaking-among-generics-firms-much-ado-about