Purchase of Salix adds gastrointestinal drugs to Valeant stable
Valeant will pay US$158 a share in cash for Salix in US$10.1 billion acquisition
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VALEANT Pharmaceuticals International Inc agreed to buy Salix Pharmaceuticals Ltd for about US$10.1 billion, a person with knowledge of the matter said, to add gastrointestinal drugs to its stable of offerings.
Valeant will pay US$158 a share in cash for Salix, the person said, asking not to be identified because the company hasn't announced the deal. Salix shares rose US$7.11 to US$157.85 last Friday, almost completely eliminating any premium in the purchase price.
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