Valeant Adds $1 Billion to Salix Offer, Amid Bid Battle
Valeant announced that it would increase its original acquisition agreement with Salix to approximately $15.8 billion.
In February 2015, Valeant announced that it would acquire Salix for $158 per share in cash, totaling approximately $14.5 billion (including company debt). On March 16, 2015, Valeant announced that it would increase its offer to $173 per share in cash coming to approximately $15.8 billion, over one billion more than the original offer.
According to The Wall Street Journal, this increase comes after a cash-and-stock bid of $172.56 from Endo International, a specialty pharmaceuticals company. Per the agreement, if all of the conditions to the tender have not been satisfied by Apr. 8, 2015, the offer price will revert back to $158 per share, according to the press release.
Source: Valeant
Drug Solutions Podcast: Gliding Through the Ins and Outs of the Pharma Supply Chain
November 14th 2023In this episode of the Drug Solutions podcast, Jill Murphy, former editor, speaks with Bourji Mourad, partnership director at ThermoSafe, about the supply chain in the pharmaceutical industry, specifically related to packaging, pharma air freight, and the pressure on suppliers with post-COVID-19 changes on delivery.
