Teva (TEVA) to Buy Cephalon (CEPH) for $81.50/Share in Cash
Tweet Send to a Friend
Get Alerts TEVA Hot Sheet
Price: $39.34 -0.38%
Overall Analyst Rating:
NEUTRAL (
Up)
Dividend Yield: 3.2%
EPS Growth %: -23.8%
Overall Analyst Rating:
NEUTRAL (
Up)Dividend Yield: 3.2%
EPS Growth %: -23.8%
Trade TEVA Now!
Teva Pharmaceutical Industries Ltd. (NASDAQ: TEVA) and Cephalon, Inc. (NASDAQ: CEPH) announced Monday that their Boards of Directors have unanimously approved a definitive agreement under which Teva will acquire all of the outstanding shares of Cephalon for $81.50 per share in cash, or a total enterprise value of approximately $6.8 billion.
The transaction is not conditioned on financing and is expected to be completed in the third quarter of 2011.
The transaction has no financing condition. Teva intends to finance the transaction through cash on hand, lines of credit and the public debt market.
We are embarking today on a new and exciting future for Teva’s branded business, and we are delighted that we will be working together with the Cephalon team,” said Shlomo Yanai, President and CEO of Teva. “This is transforming for Teva’s branded business, as it will help us to deliver on our strategic goal of creating a diversified, multi-faceted company. We have been following Cephalon for a long time and are very happy with the opportunity to join forces. Our significantly broader portfolio will permit marketing and sales synergies and enhance profitability. We look forward to welcoming our colleagues at Cephalon to the Teva family.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
The transaction is not conditioned on financing and is expected to be completed in the third quarter of 2011.
The transaction has no financing condition. Teva intends to finance the transaction through cash on hand, lines of credit and the public debt market.
We are embarking today on a new and exciting future for Teva’s branded business, and we are delighted that we will be working together with the Cephalon team,” said Shlomo Yanai, President and CEO of Teva. “This is transforming for Teva’s branded business, as it will help us to deliver on our strategic goal of creating a diversified, multi-faceted company. We have been following Cephalon for a long time and are very happy with the opportunity to join forces. Our significantly broader portfolio will permit marketing and sales synergies and enhance profitability. We look forward to welcoming our colleagues at Cephalon to the Teva family.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UPDATE: Bausch & Lomb near deal to sell to Valeant Pharmaceuticals (VRX) - WSJ
- Valeant (VRX) Continues Deal Hunt; Close to Buying Bausch & Lomb for $9B
- UPDATE: Hulu Bidding War Heats Up as Yahoo (YHOO) & Others Join Party
Create E-mail Alert Related Categories
Mergers and Acquisitions
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
