$32B deal: Mylan boosts offer for drugmaker Perrigo

$32B deal: Mylan boosts offer for drugmaker PerrigoMylan has increased its offer to buy Perrigo, which makes over-the-counter cold medicines. (Photo Illustration by Joe Raedle/Getty Images)(Photo: Joe Raedle, Getty Images)Generic drugmaker Mylan is increasing its offer to buy Perrigo to about $32 billion, upping the ante in a three-way takeover battle that also includes Teva.The British company said Friday it’s offering to buy Perrigo of Ireland for $60 in cash and 2.2 shares for each Perrigo share. Based on Mylan’s closing price Thursday, that’s a total bid of $222 per share and a 10% premium over Perrigo’s closing price that day.The offer is also higher than Mylan’s offer of $205 in cash and stock that Perrigo rejected earlier this week as too low.

Read More >

Tax Freedom Day: Today Is the Day Americans Have Earned Enough to Pay Their Taxes for the Year -

Like most people, you’ve probably filed your taxes by April 15 — but today is actually the day you’ve earned enough this year to match the tax bill, according to one think tank. The Tax Foundation, which describes itself as a non-partisan, non-profit organization that researches tax policies, says April 24 is actually the day when the country has earned enough money to pay its total tax bill for the year. “Tax Freedom Day,” which the group attempts to pinpoint each year, is “a significant date for taxpayers and lawmakers because it represents how long Americans as a whole have to work in order to pay the nation’s tax burden,” according to the Tax Foundation. The group estimates the day by taking all federal, state and local taxes and dividing them by the nation’s income. “Tax Freedom Day is one day later than last year due mainly to the country’s continued steady economic growth, which is expected to boost tax revenue, especially from the corporate, payroll, and individual income tax,” the organization said in its report. This year, the Tax Foundation estimates Americans will pay $3.28 trillion in federal taxes and $1.57 trillion in state and local taxes, for a 2014 tax bill of $4.85 trillion, or 31 percent of national income.

Read More >