Bidding War for Pliva
Seems Barr Labs isn’t the only one interested in the Croatian company Pliva.
Actavis sets Barr higher in bidding war for Pliva:
I posted earlier about Barr Labs wanting to buy Pliva and now it seems there may be a bidding war betwen Barr and Actavis. Barr originally said they would pay $2.3 billion cash and then Actavis offered $2.5 billion. Barr has stated they will respond by Sept 8 (Friday of this week).
It should be noted that Actavis already owns about 20% of Pliva and both companies seem to really want Pliva but for different reasons. Although not know in the US, Pliva is one of the largest drug makers in eastern Europe (both generic and ethical pharmaceuticals) and sells in about 30 countries.
Actavis has already been on a buying binge with eight acquisitions in the last year. Im not looking for anything to settle on this until years end at the earliest and will likely drag on into 2007.
Technorati Tags: Barr Labs, pharma M&A, pharmaceutical deals, Pliva, Actavis
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