Exclusive - Top Mylan shareholders seek deal with Teva: sources

By Olivia Oran and Nadia Damouni

(Reuters) - Some of the top investors at Mylan NV , including Paulson & Co, are encouraging its board of directors to consider a takeover proposal from rival Teva Pharmaceutical Industries Inc , according to people familiar with the matter.

A handful of these investors have expressed their support for such a deal in the last few weeks, even before Teva unveiled an unsolicited $40 billion takeover proposal on Tuesday for the Canonsburg, Pennsylvania-based company, these people said, declining to be named because they were not authorized to speak to the media.

Paulson, a New York-based hedge fund that owns roughly 14.9 million shares or 3 percent of Mylan as of December 31, declined to comment. A representative for Mylan also declined to comment.

Teva went public with its offer on Tuesday hoping Mylan shareholders would support it. Mylan, which makes the EpiPen product for severe allergies, is incorporated in the Netherlands and can take advantage of Dutch provisions that would make a hostile takeover difficult.

Mylan Executive Chairman Robert Coury said last week in response to media speculation about a potential deal that the company had studied a transaction with Teva and concluded that such a combination "is without sound industrial logic or cultural fit," and would attract antitrust scrutiny.

Mylan is pursuing its own $29 billion unsolicited bid for over-the-counter medicines maker Perrigo Co PLC . Perrigo's board rejected that offer earlier on Tuesday.

Teva argues that an acquisition of Mylan would create an entity with more than $30 billion in annual revenue, add to earnings in the first year and eventually generate $2 billion in annual savings.

Teva's biggest selling drug, multiple sclerosis injectable treatment Copaxone, faces competition from oral treatments and cheaper generics in the coming years.

In March, Teva said it would acquire neurology company Auspex Pharmaceuticals Inc for $3.5 billion to boost its portfolio of treatments for the central nervous system.

A Teva-Mylan deal would be the second-largest healthcare transaction in the last 12 months, following generic drugmaker Actavis Plc's $66 billion purchase of Botox maker Allergan. The wave of consolidation has also included AbbVie Inc's proposed $21 billion purchase of Pharmacyclics and Valeant Pharmaceuticals' $11 billion deal for Salix Pharmaceuticals Ltd.

(Reporting by Olivia Oran and Nadia Damouni in New York)