ARTICLE | Company News

Endo, Auxilium deal

September 22, 2014 7:00 AM UTC

Endo made an unsolicited bid to acquire fellow specialty pharma Auxilium for $28.10 per share in cash and stock, or about $2.2 billion. The price is a 31% premium to Auxilium's close of $21.52 on Sept. 16. Auxilium said it is reviewing Endo's bid, which comprises of an equal mix of cash and stock, but is not backing out of its ongoing merger with ophthalmic play QLT Inc. (TSX:QLT; NASDAQ:QLTI, Vancouver, B.C.). On a conference call, Endo noted that its offer is only for Auxilium. In connection with the unsolicited bid, Auxilium's board adopted a one-year stockholder rights plan. ...