Valeant (VRX) Updates on Afexa Tender; Holds 81.6% of All Outstanding Common

Valeant Pharmaceuticals International, Inc. (NYSE: VRX) reports a total of 8,523,517 additional common shares of Afexa Life Sciences Inc.) were validly deposited at the expiry time of the offer by its wholly-owned subsidiary 1625907 Alberta Ltd. to acquire all outstanding common shares of Afexa. As all of the conditions to the offer have been satisfied, the Offeror has taken up all of the deposited common shares. Afexa's shareholders who tendered to the offer will receive C$0.85 per share in cash which will be paid to Afexa's shareholders in accordance with the terms of the offer.

Accordingly, after giving effect to the take-up of deposited common shares on October 17, 2011 and October 27, 2011, the Offeror now holds approximately 81.6% of the outstanding common shares of Afexa on a fully-diluted basis.

RBC Capital Markets is acting as financial advisor to Valeant and Stikeman Elliott LLP is acting as legal counsel 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
• Swarmer invests in Erik Prince-led Vectus Air Defense Systems
• General Fusion lists on Nasdaq via SPAC merger with $150M in cash