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Wednesday, March 11, 2015

Endo offers about $11 billion for Salix, trumping Valeant, (NMS: ENDP), (TOR: ENL.TO), (NMS: SLXP), (NYQ: VRX), (TOR: VRX.TO)

Endo International Plc offered to purchase Salix Pharmaceuticals Ltd for about $11 billion in cash and stock, trumping an agreed bid by Canada's Valeant Pharmaceuticals International Inc.Endo's offer values Salix at $175 per share, a premium of 11 percent to the stock's close on Tuesday.Valeant agreed to buy the bowel drug maker in late February for about $10 billion, or $158 per share in cash.Endo, which makes drugs that focus on pain management, had expressed multiple times its interest in buying Salix, but had been rebuffed, sources told Reuters in February.

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 $92.80. 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 $115.00. 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.

Valeant Pharmaceuticals International, Inc., formerly Biovail Corporation, is a multinational, specialty pharmaceutical company that develops, manufactures and markets a range of pharmaceutical products. Shares of VRX fell by 3.15% or $-6.34/share to $195.14. In the past year, the shares have traded as low as $106.00 and as high as $206.84. On average, 2856730 shares of VRX exchange hands on a given day and today's volume is recorded at 9782463.

Valeant Pharmaceuticals International, Inc., formerly Biovail Corporation, is a multinational, specialty pharmaceutical company that develops, manufactures and markets a range of pharmaceutical products. Shares of VRX fell by 2.64% or $-6.74/share to $248.71. In the past year, the shares have traded as low as $116.01 and as high as $263.91. On average, 413188 shares of VRX.TO exchange hands on a given day and today's volume is recorded at 612025.



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