Scalper1 News
Mylan Labs (MYL) gapped lower Monday morning after announcing that Abbott Laboratories (ABT) would sell about one-third of its recently acquired stake in the generic drug maker. But Mylan shares bounced off a key support level. Mylan will offer 35 million shares on behalf of Abbott, or 31.8% of Abbott’s stake in Mylan. Underwriters also have the right to buy another 5.25 million shares from Abbott. Abbott acquired 110 million Mylan shares last Scalper1 News
Scalper1 News