Depomed Inc, Horizon Pharma deal

Depomed received an unsolicited bid from Horizon to acquire the company for $29.25 per share, or about $1.8 billion. The price is a 42% premium to Depomed’s close of $20.64 on July 6, before the deal was announced.

Horizon said it would retire Depomed’s $575 million in senior secured notes with cash and newly issued debt and that the acquisition would be immediately and substantially accretive to the company’s adjusted diluted EPS. ...