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, sources told the New York Times, though a specific figure wasn’t cited. Valeant last month agreed to pay $158 a share for Salix in an all-cash deal worth $10 billion, or $14.5 billion including assumed debt. But on
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
Endo International (ENDP) confirmed that it has made a bid of $175 share for Salix Pharmaceuticals (SLXP), after Valeant Pharmaceuticals (VRX) announced in late February it had reached a deal to buy Salix for $158 a share. Endo said it would offer cash and stock — reportedly 1.4607 Endo shares plus $45 in cash for each share of Salix,, which specializes in gastrointestinal drugs. Trading of Salix shares and Endo were halted pending Endo’s