Why Mylan (MYL) Stock Is Up Today

NEW YORK (TheStreet) -- Mylan  (MYL) rose Friday after the pharmaceutical company increased its all-stock offer for Swedish rival Meda to $9 billion.

Meda previously rejected a takeover offer earlier this month. The company subsequently said it had been contacted with a proposal to combine the two companies, but Meda's board rejected this, too.

The stock was up 2.01% to $51.36 at noon on Friday.

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