Endo makes competing bid for Salix-WSJ

Wed Mar 11, 2015 1:10pm EDT
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March 11 (Reuters) - Endo International Plc has made a competing offer of between $170 and $175 per share for Salix Pharmaceuticals Ltd, the Wall Street Journal reported, citing sources.

Canada's Valeant Pharmaceuticals International Inc agreed to buy bowel drug maker Salix in late February for about $10 billion, or $158 per share.

Endo sent a private offer letter to Salix's board on Wednesday, the Journal reported. (on.wsj.com/18c1JdD)

Valeant spokeswoman Laurie Little said the company does not comment on market rumors.

Salix and Endo were not immediately available for comment.

(Reporting by Natalie Grover in Bengaluru; Editing by Sriraj Kalluvila)