Azur Pharma, Jazz deal

Neurology company Jazz will acquire CNS and women's health company Azur in a stock deal that will allow the combined company to have "greater operational and financial resources" to acquire and develop specialty pharma products. The combined company will be renamed Jazz Pharmaceuticals plc and be incorporated in Ireland. Jazz shareholders will receive one share in the combined company for every share held and will own just less than 80% of the combined company, while Azur shareholders will own slightly more than 20%. The combined company is expected to have 60 million fully diluted shares outstanding, which would translate to a market cap of $2.6 billion based on Jazz's close of $43.74 on Sept. 19, before the deal was announced. ...