Deals
Salix Suitors May Yet Emerge to Challenge Valeant: Real M&A
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It might still be early for investors to rule out competing offers for Salix Pharmaceuticals Ltd.
The drugmaker’s $14.5 billion deal with Valeant Pharmaceuticals International Inc. came together quickly, considering that Salix was essentially just put back in play after it restated financial results in late January. The maker of diarrhea medicine is now selling to Valeant for $158 a share, which falls short of what some analysts and shareholders were expecting given the long list of companies that were thought to be interested suitors, including Shire Plc and Actavis Plc.