Actavis, Inc. (NYSE:ACT) reportedly received and rejected a takeover offer from Mylan, Inc. (NasdaqGS:MYL) last week that valued it at more than $15 billion, a person familiar with the situation told on May 14, 2013, Reuters said. Mylan's cash and stock bid valued Actavis at $120 per share, the person said, asking not to be identified because the matter is not public. Actavis shares ended at $121.68 on the New York Stock Exchange and Mylan shares rose 3% to $30.10 on May 14, 2013. An Actavis spokesman and a Mylan spokeswoman declined to comment to Reuters.

Mylan, Inc. Presents at UBS Global Healthcare Conference, May-22-2013 09:30 AM. Venue: Sheraton New York Hotel, 811 Seventh Avenue, New York, New York, United States. Speakers: John D. Sheehan, Chief Financial Officer and Executive Vice President.

Mylan, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported net revenues of $1,619.408 million against $1,573.075 million a year ago. Total revenues were $1,631.490 million against $1,583.655 million a year ago. Earnings from operations were $213.847 million against $250.538 million a year ago. Earnings before income taxes and non-controlling interest were $139.258 million against $158.314 million a year ago. Net earnings attributable to common shareholders were $106.882 million or $0.27 per basic and diluted share against $129.079 million or $0.30 per basic and diluted share a year ago. Adjusted earnings from operations were $383.0 million against $368.3 million a year ago. Consistent with the top line growth, this represents a 4% increase compared to the prior year. This is primarily the result of the improvement in gross margin as previously discussed, partially offset by our planned increase in R&D. GAAP cash provided by operating activities was $88 million against cash used in operating activities of $107 million a year ago. Adjusted cash provided by operating activities was $90 million against $69 million a year ago. Adjusted net earnings attributable to the company were $245.9 million or $0.62 per diluted share against $224.5 million or $0.52 per diluted share a year ago. EBITDA was $350.5 million against $368.5 million a year ago. Adjusted EBITDA was $443.4 million against $411.2 million a year ago. The increase in adjusted earnings from operations was driven by higher gross profit in the current year partially offset by increases in research and development costs. Capital expenditures were approximately $53 million in the current year as compared to approximately $36 million in the same prior year period. GAAP cash flow from operations for the current quarter was approximately $88 million, leaving it with unrestricted cash and cash equivalents, totaling at almost $300 million. With respect to the second quarter of fiscal 2013, the company expects that adjusted diluted EPS will be in the range of $0.66 to $0.68. The company continues to anticipate the third quarter of fiscal 2013 will be the strongest quarter of the year. The company is forecasting the fourth quarter of fiscal 2013 to be comparable to or slightly stronger than the second quarter. The company remains very confident in outlook for business in 2013 and reaffirming full year guidance, including adjusted diluted EPS guidance range of $2.75 to $2.95. The company currently anticipates that its total revenues for 2013 will be towards the lower half of the previously disclosed guidance range of $7 billion to $7.4 billion. Adjusted EBITDA remains forecasted at $1.9 billion to $2.1 billion for the full year. The effective tax rate at the midpoint of the full year 2013 tax rate range of 26% to 27%. The company expects that full year effective tax rate may be closer to the lower end of the guidance range. The company is still forecasting the full year 2013 adjusted operating cash flow to be within the guidance range of $1 billion to $1.2 billion.