Valeant secures financing for potential Salix bid - Bloomberg

Thu Feb 12, 2015 2:26pm EST
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

Feb 12 (Reuters) - Canada's Valeant Pharmaceuticals International Inc has arranged financing for a potential takeover bid for bowel-drug maker Salix Pharmaceuticals Ltd, Bloomberg reported, citing people familiar with the matter.

Valeant will likely bid more than $150 per share for the company, Bloomberg said, quoting one of those people. (bloom.bg/16YHzmJ)

A bid of $150 per share would value Salix at about $9.6 billion. Salix's stock was up 4.6 percent at $149.82 in afternoon trading on the Nasdaq on Thursday.

Salix, based in Raleigh, North Carolina, was not immediately available for comment. A Valeant spokeswoman said the company does not respond to market rumors or speculation.

Bloomberg, citing sources, reported earlier this month that British drugmaker Shire Plc was also interested in Salix. (bloom.bg/1Da0N5B)

Valeant's U.S.-listed shares were up about 1.9 percent at $167.45 on the New York Stock Exchange. The company's Canadian shares were up about 0.6 percent at C$209. (Reporting by Natalie Grover; Editing by Ted Kerr)