Valeant acquiring skin disorder company Obagi

Valeant Pharmaceuticals International Inc. (TSX:VRX; NYSE:VRX) will acquire skin disorder company Obagi Medical Products Inc. (NASDAQ:OMPI) for $19.75 per share in cash, or about $344.3 million based on 17.4 million Obagi shares outstanding as of March 6. The price is a 28% premium to Obagi's close of $15.39 on Tuesday, before the deal was announced. Obagi's board has unanimously approved the deal, which is slated to close this half. Obagi markets skin disorder products and reported 2012 net sales of $120.7 million. Valeant said the acquisition will supplement its dermatology portfolio. ...