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Mergers & Acquisitions

Mar. 18, 2015

Valeant beats Endo with new offer to Salix

The amended $11.2 billion cash agreement to buy Salix forced Endo this week to pull its unsolicited offer of $11 billion in both cash and stock. The deal with Valeant is expected to close by April 7.


By Banks Albach


Daily Journal Staff Writer


After a short bidding war with Endo International PLC, Quebec-based Valeant Pharmaceuticals International Inc. was back on track to acquire Salix Pharmaceuticals, Ltd. Monday in an $11 billion cash deal that was first announced last month. Sullivan & Cromwell LLP is advising Valeant. Including other components, like debt, the deal is valued at $15.8 billion.


Century City-based partner Alison S. Re...

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