Specialty drugmaker Endo International (ENDP) withdrew its offer for Salix Pharmaceuticals Monday after the latter enlarged its buyout deal with Valeant Pharmaceuticals International. Valeant (VRX) said it had amended the terms of its merger agreement to $173 a share in cash, or $11.1 billion, up from the $158 a share the two companies agreed to last month. Last week, Endo bid $175 a share in an unsolicited bid for Salix (SLXP), but its offer was
This past week, several top-rated IBD 50 stocks saw big gains on notable news. Watch this video for more information. Stocks mentioned include: Valeant Pharmaceuticals (VRX), Salix Pharmaceuticals (SLXP), Allergan (AGN), Actavis (ACT), Ulta Beauty (ULTA), Dollar Tree (DLTR), Family Dollar (FDO) and Dollar General (DG). Follow Alissa Williams on Twitter: @IBD_AWilliams. Related: Valeant Mulls Higher Salix Bid, But Don’t Expect $170.
Valeant Pharmaceuticals (VRX) is reportedly mulling a higher bid for Salix Pharmaceuticals (SLXP) even as Valeant investor Bill Ackman said it won’t “overpay.” Valeant is considering raising its all-cash offer to above $160 a share, according to multiple reports citing sources. It was originally reported Friday afternoon by New York Times. Valeant plans weekend meetings to discuss the issue, with no specific figure cited. Valeant last month agreed