Endo acquires Canadian spec pharma Paladin for $Cdn1.5bn

Endo Health Solutions Inc. acquired publicly traded Canadian spec pharma Paladin Labs Inc. for $Cdn1.5bn ($1.5bn). New Endo, a holding company based in Ireland, was formed, and each current Endo share is equivalent to one New Endo share. New Endo will own the combined Endo/Paladin and trade on Nasdaq, with Endo stockholders controlling 77.5% of the combined company, and Paladin the rest (because of this structure, the transaction isn’t expected to be taxable to Endo’s US shareholders, but will be taxable to Paladin’s in Canada). Paladin retains its name, current management, and Montreal headquarters.