UPDATE: Perrigo (PRGO) Pops Higher Amid Chatter

(Updated - September 29, 2015 12:25 PM EDT)

Perrigo (NYSE: PRGO) shares pop higher.

UPDATE - Market chatter has Perrigo's top shareholders asking the company to explore a sale.

The shareholders make up about 6 percent of Perrigo's equity capital, according to Reuters.

Currently, Mylan (NYSE: MYL) has a hostile bid in which values the company at about $25 billion. The company recently launched a tender offer to acquire Perrigo for $75 per share in cash and 2.3 Mylan shares for each tendered Perrigo share. Since Mylan's initial proposal last April, shares have dropped over 30 percent since July, which stemmed largely from a move to block a takeover offer from Teva Pharma (NYSE: TEVA).

Shares of PRGO are up 0.5 percent after rising as much as 6.6 percent Tuesday.

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