In Vivo is part of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC’s registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call +44 (0) 20 3377 3183

Printed By

UsernamePublicRestriction
UsernamePublicRestriction
Brought to you by

Valeant goes hostile and offers $73/share for Cephalon; withdrawn

Executive Summary

Taking its offer directly to investors, Valeant Pharmaceuticals International Inc. (focuses on skin and CNS drugs) has publicly announced a $73 per-share cash bid (a 30% premium) for Cephalon Inc., valuing the top-tier biotech at $5.5bn, or almost twice its 2010 sales. Valeant plans to finance the transaction using debt, and wants to replace Cephalon’s board with its own nominees. Beginning earlier this month, Valeant privately approached Cephalon three times, but Valeant says the target did not want to enter into further discussions in a timely manner, and that Cephalon’s CEO believed the board would consider the offer too low.
Deal Industry
  • Biotechnology
  • Pharmaceuticals
    • Specialty Pharmaceuticals
Deal Status
  • Withdrawn
Deal Type
  • Acquisition
    • Full Acquisition
    • Payment Includes Cash

Related Companies

Advertisement
UsernamePublicRestriction

Register