Deals, M&A

Acquisition agreement for Cephalon

Posted on 02 May 2011

Tags: , , ,

Definitive agreement under which Teva will acquire all of the outstanding shares of Cephalon for $81.50 per share in cash, or a total enterprise value of approximately $6.8 billion.

The transaction is not conditioned on financing and is expected to be completed in the third quarter of 2011.

The purchase price of $81.50 per share represents a 39% premium to Cephalon’s stock price on March 29, 2011, the last closing price before the unsolicited proposal was announced; a premium of 44% to Cephalon’s average closing stock price over the last 30 trading days prior to the unsolicited proposal; a 12% premium to the unsolicited proposal of $73.00 per share; and a premium of 6% to Cephalon’s closing stock price on April 29, 2011, the last trading day prior to today’s announcement.

The transaction is expected to be immediately accretive to Teva’s non-GAAP earnings per share and accretive to Teva’s GAAP earnings within the fourth quarter of closing.

Related items:

Purchase the Dealdoc
View the Point of view article
See this deal on the 2011 M&A Scorecard
View this deal and thousands more at Current Agreements (subscription required)

Print Friendly, PDF & Email

Leave a Reply