Endo bids $2.2B for Auxilium

Endo International plc (NASDAQ:ENDP; TSX:ENL) made an unsolicited bid to acquire fellow specialty pharma Auxilium Pharmaceuticals Inc. (NASDAQ:AUXL) for $28.10 per share in cash and stock, or about $2.2 billion. The price is a 31% premium to Auxilium's Tuesday close of $21.52. Auxilium could not be reached for comment.

Endo said Auxilium's 12 approved products would complement Endo's portfolio of drugs for pain and men's health. Auxilium reported 1H14 net revenues of $171.5 million. Citi is advising Endo. ...