Valeant secures financing for potential Salix bid - Bloomberg

Thu Feb 12, 2015 2:26pm EST
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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. (

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. (

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)