Investors were unimpressed after Mylan said its independent directors were still not in a position to reveal the findings of a strategic review they have been undertaking in recent months. With first-quarter sales failing to meet analysts’ consensus forecasts, shares slid to their lowest level in the past five years, although Mylan’s share price has since rebounded slightly following media rumors that investment firm Carlyle Group is preparing a takeover bid.
Wait For Strategic Decisions Weighs Heavily On Mylan
With no news on the progress of a board-level strategic review on offer, investors reacted negatively to Mylan falling short of consensus sales figures. This took the firm's share price to its lowest level for more than five years.
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