Valeant Pharmaceuticals International (VRX.TO) Inc stepped in as a white knight for cold medicine maker Afexa Life Sciences (FXA.TO) on Tuesday with a C$76 million all-cash offer that's worth 34 percent more than a rival offer. Valeant said it had offered C$0.71 in cash per share of Afexa, which makes the Cold-FX medicine.
Shares of VRX fell by 1.37% or $-0.61/share to $44.05. In the past year, the shares have traded as low as $22.45 and as high as $57.24. On average, 2899400 shares of VRX exchange hands on a given day and today's volume is recorded at 40878.
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