Mylan Plans Hostile Takeover of Perrigo; Stocks Rebound in Rally

Mylan (MYL) gained ground Tuesday after it announced plans to start a $27.1 billion hostile takeover of Perrigo (PRGO). The drugmaker is asking Perrigo shareholders to accept the proposal which executives had declined. Stocks rallied on Tuesday, rebounding after a dour end to last week. The Nasdaq recovered gains for the year to date. Twitter (TWTR) tumbled on news of the latest shakeup to its C-suite of executives. Twitter's senior vice president Mike Gupta who had overseen the company's venture arm will take up the role of chief financial officer at tech startup Docker. Twitter has been on the hunt for a permanent CEO since Dick Costolo left in June.