Mylan to Acquire Meda in $9.9B DealLong story short. Mylan bought this European specialty pharma company for almost $10bn, which is equivalent of 13x EBITDA.
The deal was probably over-valued. But CXR looks rediculously cheap at these levels. Take-out offer is very possible.
https://finance.yahoo.com/news/mylan-acquire-meda-210100443.html