RBC Capital Downgrades Medicis (MRX) to Sector Perform

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Go back to RBC Capital Downgrades Medicis (MRX) to Sector Perform

Valeant (VRX) to Acquire Medicis (MRX) to $44/Share; Deal Valued at $2.6B

September 4, 2012 6:29 AM EDT

Valeant Pharmaceuticals International, Inc. (NYSE: VRX: VRX) and Medicis Pharmaceutical Corporation (NYSE: MRX) entered into a definitive agreement under which Valeant will acquire all of the outstanding common stock of Medicis for $44.00 per share in cash.

The transaction, which values Medicis' common stock at approximately $2.6 billion, was unanimously approved by the Boards of Directors of both... More