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Valeant follows failed Allergan bid with $14.5B Salix acquisition

Feb 23, 2015 - The Deal Pipeline
Mergers and Acquisitions

Laval, Canada-based Valeant Pharmaceuticals International Inc. (VRX) announced on Sunday that it would acquire Salix Pharmaceuticals Ltd. (SLXP), of Raleigh, N.C., in a deal with an enterprise value of $14.5 billion, following last year's failed attempt by Valeant to purchase Allergan Inc. (AGN).

Under the terms of the deal Valeant will acquire all outstanding stock for $158 per share in cash in exchange for acquiring the gastrointestinal pharmaceutical company with a portfolio of 22...