Valeant Pharmaceuticals International Inc plans to raise its bid for Salix Pharmaceuticals Ltd to above $160 per share, a source familiar with matter told Reuters, hoping to end a bidding war with Endo International Plc. Valeant, which last month agreed to purchase Salix for $158 per share, or about $10 billion, is looking to team up with Ackman's Pershing Square Capital Management and other top shareholders to raise its bid, the source said.New York Times earlier reported Valeant's plan to raise its bid. (nyti.ms/1BCpFBp)A Valeant spokesperson declined to comment.Endo International earlier this week offered to buy Salix for $175 per share, or about $11 billion, in cash and stock.
Shares of ENDP fell by 3.735% or $-3.38/share to $87.12. In the past year, the shares have traded as low as $53.62 and as high as $92.80. On average, 3000360 shares of ENDP exchange hands on a given day and today's volume is recorded at 3289861.
Shares of ENL fell by 2.66% or $-3.08/share to $112.92. In the past year, the shares have traded as low as $59.50 and as high as $116.00. On average, 914 shares of ENL.TO exchange hands on a given day and today's volume is recorded at 336.
Salix Pharmaceuticals, Ltd. is a specialty pharmaceutical company engaged in the prevention and treatment of gastrointestinal (GI) disorders. Shares of SLXP fell by 0.91% or $-1.55/share to $168.50. In the past year, the shares have traded as low as $86.00 and as high as $172.98. On average, 3022140 shares of SLXP exchange hands on a given day and today's volume is recorded at 4668640.
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 traded higher by 2.11% or $4.06/share to $196.68. In the past year, the shares have traded as low as $106.00 and as high as $206.84. On average, 3083700 shares of VRX exchange hands on a given day and today's volume is recorded at 3598785.
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 traded higher by 2.92% or $7.14/share to $251.48. In the past year, the shares have traded as low as $116.01 and as high as $263.91. On average, 417843 shares of VRX.TO exchange hands on a given day and today's volume is recorded at 244867.
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