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Mylan planning new offer for Perrigo in the near term

Tablets manufactured by Perrigo
Andrew Harrer | Bloomberg | Getty Images
Tablets manufactured by Perrigo

After its unsolicited takeover bid was denied Tuesday, Mylan plans to make a new offer for Perrigo in the near term, according to a source familiar with the matter.

Earlier this month, Mylan offered to buy Perrigo for $205 per share in cash and stock. Perrigo said Tuesday that previous offer substantially undervalues the company.

A new bid from Mylan will include firm financing commitments, and firm commitments to move ahead with a deal, sources said.

Read MorePerrigo board unanimously rejects Mylan proposal

Following CNBC's first reporting of that new development in Mylan's plans, Perrigo's stock rose from 1.5 percent up on the day to about a 3 percent gain from the open.

Mylan's stock, meanwhile, went from slightly up on the day, to a slight loss, following CNBC's report.

WIN-Initiative | Getty ImagesPosted 29 Dec 09

Earlier Tuesday, Reuters reported that Perrigo was set to reject the $29 billion offer from Mylan, as it tackles an unsolicited offer from Israeli drugmaker Teva Pharmaceutical.

Perrigo, which has a large and attractive portfolio of over-the-counter consumer products, infant formulas and a line of generic topical pharmaceutical medicines, has long been seen as a takeover target.

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—Reuters and CNBC's David Faber contributed to this report.