Teva completes Sicor acquisition

Generics company TEVA completed its previously announced acquisition of generics formulation company Sicor (SCRI) in a cash and stock deal worth $3.4 billion. Under the deal, each SCRI share will be exchanged for $16.50 in cash and 0.1906 TEVA ADRs. Based on TEVA's Jan. 21 close of $58.76, the per-share consideration for each outstanding share of SCRI was $27.70. SCRI shareholders will own approximately 7% of TEVA on a fully diluted basis. TEVA said the deal strengthens its injectable and oral generics business and adds biogenerics capabilities. ...