said Thursday that billionaire investor Carl Icahn has been given the OK by the Federal Trade Commission to purchase some of the company's stock.
Pittsburgh-based Mylan, which makes generic and brand-name drugs, said the FTC granted early termination of the Hart-Scott-Rodino waiting period relating to an Icahn application to buy between $100 million and $500 million worth of Mylan's stock.
Based on Wednesday's closing price of $15.58, Icahn would be able to purchase 2.4% to 11.9% of Mylan's shares without making a further filing with regulators.
In premarket trading, Mylan's shares jumped $1.12, or 7.2%, to $16.70.
Mylan said it hadn't talked to Icahn, adding that it doesn't know how much he will buy. The company declined further comment.
Mylan is seeking to acquire
in a $4 billion stock swap deal announced in late July.
Icahn recently sold a part of his large stake in