Salix Pharmaceuticals acquires specialty pharma, Santarus for a whopping $2.6 billion cash transaction.
Salix Pharmaceuticals and Santarus have entered into a definitive merger agreement under which Salix acquires all of the outstanding common stock of Santarus for $32.00 per share in cash (without interest).
The all-cash transaction values Santarus at approximately $2.6 billion.
The combined company is expected to have a leading position with a strong portfolio of 22 marketed products, including: XIFAXAN, UCERIS, GLUMETZA, APRISO, ZEGERID, MOVIPREP, RELISTOR, SOLESTA, FULYZAQ, CYCLOSET and FENOGLIDE.
Salix intends to finance the transaction with a combination of approximately $800 million cash on hand and $1.95 billion in committed financing from Jefferies Finance.
Jefferies Finance also has committed to provide an additional $150 million revolving credit facility.
Read the full news release at Salix
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