Endo Cuts In, Tops Valeant Bid For Salix

By | March 11, 2015

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Endo Pharmaceuticals bid $175 a share to snatch a distressed specialty drugmaker from Valeant Pharmaceuticals (VRX), the company announced Wednesday afternoon. Salix Pharmaceuticals (SLXP) had already agreed on Feb. 22 to be bought by Valeant for $158 a share, or $14.5 billion including debt. The stock had been trading in that range since then, but when word of Endo’s (ENDP) bid leaked out early in the afternoon, the stock jumped Scalper1 News

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