BioCentury
ARTICLE | Company News

Afexa, Paladin, Valeant Pharmaceuticals deal

October 3, 2011 7:00 AM UTC

Valeant increased its tender offer to acquire Afexa to C$0.85 per share in cash after Paladin increased its unsolicited tender offer to acquire Afexa to C$0.81 per share in cash earlier in the week. Valeant's offer is a 20% increase over its previous offer of C$0.71 per share. Valeant said it is able to attribute more value to Afexa than Paladin because of its larger scale and "extensive international consumer footprint." RBC Capital is advising Valeant. Afexa's board unaimously recommended Valeant's increased offer and that shareholders tender their shares to Valeant. ...