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Teva Swoops In To Snatch Cephalon For $6.7 Billion

Executive Summary

Cephalon, the mid-sized specialty pharma company has found a white knight. Just two weeks before a May 12 deadline required shareholders to tender their shares for or against a takeover offer by Valeant Pharmaceuticals International, the company has accepted a $6.8 billion cash offer from Teva Pharmaceutical Industries.
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