Valeant (VRX) to Raise Bid for Afexa by 20% to 85c/Share

Valeant Pharmaceuticals International, Inc. (NYSE: VRX), announced today that it intends to raise its takeover offer for Afexa Life Sciences Inc. of Edmonton, Alberta to $0.85 per common share, an increase of 20% from $0.71 originally offered under an agreement announced on August 30, 2011.

Stikeman Elliott LLP is acting as legal counsel to Valeant and RBC Capital Markets is acting as financial advisor to Valeant.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Magna Holdings makes unsolicited bid for 31% of Yatra Online
• Greenland approves rare earths license transfer to Greenland Mines
• Synaptics CFO resigns amid pending ON Semiconductor merger