Valeant Pharmaceuticals/Cephalon, Inc.
On March 29, 2011, Valeant Pharmaceuticals International, Inc. (NYSE: VRX) proposed a buyout of Cephalon, Inc. (Nasdaq: CEPH) for $73 per outstanding Cephalon common share, or $5.7 billion in total consideration.
Valeant will commence a tender offer starting the week of April 4, 2011.
Valeant anticipates that the transaction will be entirely debt financed. Goldman Sachs & Co. has provided a highly confident letter for the full amount of the financing.
CEO J. Michael Pearson said that Valeant plans on being "disciplined on price," believing that they have submitted a full-and-fair offer for Cephalon.
Valeant will commence a tender offer starting the week of April 4, 2011.
Valeant anticipates that the transaction will be entirely debt financed. Goldman Sachs & Co. has provided a highly confident letter for the full amount of the financing.
CEO J. Michael Pearson said that Valeant plans on being "disciplined on price," believing that they have submitted a full-and-fair offer for Cephalon.
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