Leo Pharma, Peplin deal

Leo will acquire dermatology and cancer company Peplin for $16.99 a share, or $287.5 million in cash. The purchase price is equivalent to A$1.03 per Peplin CHESS Depositary Interest, which is a 72% premium to Peplin's close of A$0.60 on Aug. 31, the last day the shares traded before the deal was announced. Leo also will provide Peplin with a loan to fund ongoing operations until the deal closes. ...