Endo International Plc has made an offer to purchase Salix Pharmaceuticals Ltd for more than $10 billion, trumping Canada's Valeant Pharmaceuticals International Inc's offer, a person familiar with the matter said. Valeant agreed to buy the bowel drug maker in late February for about $10 billion, or $158 all cash offer per share.The Wall Street Journal, citing people familiar with the matter, earlier reported Endo's offer would be in cash and stock valued between $170 and $175 per share. (on.wsj.com/18c1JdD)At $175 per share, the offer would value Salix at $11 billion.The person asked not to be named because they were not authorized to speak on the record.
Shares of ENDP fell by 1.11% or $-0.99/share to $88.01. In the past year, the shares have traded as low as $53.62 and as high as $89.98. On average, 2766350 shares of ENDP exchange hands on a given day and today's volume is recorded at 5986773.
Shares of ENL traded higher by 3.43% or $3.77/share to $113.77. In the past year, the shares have traded as low as $59.50 and as high as $112.14. On average, 914 shares of ENL.TO exchange hands on a given day and today's volume is recorded at 531.
Salix Pharmaceuticals, Ltd. is a specialty pharmaceutical company engaged in the prevention and treatment of gastrointestinal (GI) disorders. Shares of SLXP traded higher by 6.44% or $10.15/share to $167.80. In the past year, the shares have traded as low as $86.00 and as high as $172.98. On average, 2604540 shares of SLXP exchange hands on a given day and today's volume is recorded at 11194390.
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