Valeant Pharmaceuticals International Inc increased its takeover offer for Salix Pharmaceuticals Inc to $10.96 billion in cash on Monday, bumping out Endo International Plc, the only other bidder for the maker of gastrointestinal drugs.Salix has agreed to Valeant's new offer of $173 in cash, which is higher than Valeant's previous bid of $158 per share in cash, which was made late last month, the two companies said in a joint statement.Salix would be the largest purchase ever made by Canada-based Valeant, whose growth has long been fueled by acquisitions and cost-cutting. The acquisition would offer some redemption for dealmaking Valeant Chief Executive Michael Pearson, whose hostile bid for Allergan Inc failed last year.It would also be a boost for investor Bill Ackman, who announced last week he had bought a more than $3 billion stake in Valeant after having worked with the company on the Allergan bid.
Allergan, Inc. is a multi-specialty health care Company focused on developing and commercializing pharmaceuticals, biologics, medical devices and over-the-counter products. Shares of AGN traded higher by 1.55% or $3.69/share to $241.03. In the past year, the shares have traded as low as $115.94 and as high as $241.78. On average, 2201730 shares of AGN exchange hands on a given day and today's volume is recorded at 1907732.
Shares of ENDP traded higher by 2.31% or $2.02/share to $89.35. In the past year, the shares have traded as low as $53.62 and as high as $92.80. On average, 3025840 shares of ENDP exchange hands on a given day and today's volume is recorded at 3041341.
Shares of ENL fell by 0.81% or $-0.92/share to $112.00. In the past year, the shares have traded as low as $59.50 and as high as $116.00. On average, 903 shares of ENL.TO exchange hands on a given day and today's volume is recorded at 379.
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 2.0% or $3.95/share to $201.38. In the past year, the shares have traded as low as $106.00 and as high as $206.84. On average, 3111320 shares of VRX exchange hands on a given day and today's volume is recorded at 2362240.
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 1.84% or $4.65/share to $256.94. In the past year, the shares have traded as low as $116.01 and as high as $263.91. On average, 417685 shares of VRX.TO exchange hands on a given day and today's volume is recorded at 283356.
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