Deals
Horizon to Buy Hyperion for $1.1 Billion, Gain Orphan Drugs
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Horizon Pharma Plc agreed to buy Hyperion Therapeutics Inc. for $1.1 billion to gain drugs to treat rare metabolic diseases, adding to this year’s surge in pharmaceutical-industry takeovers.
Horizon will offer Hyperion holders $46 a share in cash, the companies said in a statement today. That’s 7.6 percent above Friday’s closing level and about 35 percent above the average price for the past two months.