5:19 PM
 | 
Dec 16, 2011
 |  BC Extra  |  Company News

Valeant eyes hostile takeover of Ista

Valeant Pharmaceuticals International Inc. (NYSE:VRX; TSX:VRX) made public Friday an unsolicited offer to acquire ophthalmic company Ista Pharmaceuticals Inc. (NASDAQ:ISTA) for $6.50 per share in cash, or about $327 million, including Ista's debt. The price is a 67% premium to Ista's Thursday close of $3.89. Ista jumped $2.79 (72%)...

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