Concordia International (CXRX) Exercises Option to Defer Half of Earn-Out; Will Continue to Review Alternatives
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Concordia International Exercises Option to Defer Portion of Earn-Out and Provides Update on Strategic Review
October 3, 2016 7:51 AM EDTOAKVILLE, ON, Oct. 3, 2016 /PRNewswire/ - Concordia International Corp. (the "Company") (NASDAQ: CXRX) (TSX: CXR) together with its subsidiaries ("Concordia") - an international pharmaceutical company focused on legacy pharmaceutical products and orphan drugs, today announced that it has exercised an option to defer half of the anticipated £144 million earn-out obligation due to Cinven1 and the other sellers of Concordia's International segment, to February 1, 2017.
"Our decision to defer £72 million of the earn-out reflects Cinven's continued support for Concordia and provides the Company with greater flexibility to manage its... More
