These Stocks Are in Spotlight on M&A-Related News

Shares of Perrigo Company plc Ordinary Shares (NYSE:PRGO) have inched down by around 2% after the company issued a letter sent to its shareholders, in which it urged them to vote against the hostile bid received from Mylan NV (NASDAQ:MYL) earlier this year. Since April and till September, Mylan NV (NASDAQ:MYL) had been trying to pursue the board and the management into accepting the takeover, but the offers were rebuffed. In September, the company took the matter to Perrigo Company plc Ordinary Shares (NYSE:PRGO)’s shareholders. Mylan’s offer includes $75 in cash and 2.3 Mylan shares for each share of Perrigo, which valued the company at around $27 billion. The takeover bid expires on November 13. However, it seems that many shareholders of Perrigo could support the sale of the company to Mylan NV (NASDAQ:MYL). During the second quarter, the number of funds bullish on Perrigo Company plc Ordinary Shares (NYSE:PRGO) surged to 83 from 37 (among those we track), while in aggregate these funds held nearly 18% of the company at the end of June. In the current round of 13F filings, billionaire Ken Fisher‘s Fisher Asset Management reported holding 217,661 shares of Perrigo as of the end of September.

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