Endo Outbids Valeant for Salix Takeover

Source: NY Times

Mar 12, 2015

Endo International launched a takeover bid on Wednesday for Salix Pharmaceuticals. Endo’s offer of $175 a share beats Valeant’s existing offer of $158 a share.

Endo's offer values Salix at about $11.2 billion, trumping Valeant’s agreed offer of $10 billion. Endo, however, is offering mostly stock, in contrast to Valeant’s cash offer. A cash offer does not require either company’s shareholders to approve the deal.

Endo would have to pay a $356 million break-up fee to Valeant if it succeeds, along with close to $60 million in associated fees.

Read the NY Times article

Show Comments
Hide Comments

Join the discussion

We welcome your thoughtful comments.
All comments will display your user name.

Want to participate in the discussion?

Register for free

Log in for complete access.


No one has commented on this page yet.

RSS feed for comments on this page | RSS feed for all comments