BUZZ-Valeant Pharmaceuticals Inc: To buy Salix for $10.1 bln

Mon Feb 23, 2015 7:17am EST
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

** Canadian drugmaker Valeant's U.S.-listed shares up 7.9 pct at $187 premarket

** Company to buy gastrointestinal drug maker Salix Pharmaceuticals Ltd in all-cash deal valued at about $10.1 bln

** Salix stock down 1 pct at $156.21 premarket, below Valeant's offer price of $158 per share

** Valeant's offer is at significant premium to Salix's intrinsic value of $76.46 per share - Thomson Reuters StarMine data

** Cantor Fitzgerald raises price target on Valeant's stock to $214 from $184; median price target is $183

** Up to Friday's close, Valeant stock had risen 20 pct this year, while NYSE Arca Pharmaceutical Index had risen 6 pct