Auxilium accepts Endo's richer buyout bid

Endo International plc (NASDAQ:ENDP; TSX:ENL) won its bid to acquire Auxilium Pharmaceuticals Inc. (NASDAQ:AUXL), striking a deal they valued at $33.25 per share in stock and cash, or $2.6 billion. Auxilium agreed to Endo's sweetened offer after rejecting its prior bid of $28.10 per share, or $2.2 billion, in September.

The share price is a 55% premium to Auxilium's close of $21.52 on Sept. 16, before Endo's first bid was disclosed publicly. The price is about 6.5x Auxilium's revenue of $400.7 million in 2013. Auxilium's portfolio includes 12 approved products that Endo said will complement its own portfolio of drugs for pain and men's health. ...