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Perrigo urges shareholders to reject Mylan takeover offer

NEW YORK (AP) -- Perrigo urged shareholders to reject Mylan's $27 billion hostile takeover offer, saying it undervalues the company.

On Tuesday, Mylan took its offer directly to Perrigo's shareholders after it had been rejected by the company. The latest offer, initially proposed last week, would give shareholders $75 in cash and 2.3 shares of Mylan N.V. stock for every Perrigo Co. share they...