Teva completes acquisition of 4.6% interest in Mylan

JERUSALEM — Teva announced Friday that it had acquired 4.6% of Mylan’s outstanding shares. The move gives Teva standing in Dutch court, should they decide to pursue action against Mylan.

Teva has offered to purchase Teva for $40 billion, an offer that has been rejected by Mylan, which is currently attempting to purchase Perrigo for $32 billion. Perrigo has rejected Mylan's offer in the past. Abbot Laboratories, Mylan’s largest shareholder, announced earlier this week that it would back the Perrigo acquisition, voting its 14. 5% share in favor of the deal.

Teva on Friday said that if Mylan held a meeting on the Perrigo deal by Aug. 31, Teva would limit its total holding of Mylan’s outstanding shares to 5%.