NEW YORK (Reuters) – Teva Pharmaceutical Industries Ltd struck a deal to acquire U.S. specialty drugmaker Cephalon Inc (CEPH.O) for nearly $7 billion, topping an unsolicited bid by Canada's Valeant Pharmaceuticals International Inc and boosting its brand-name drug business.
Teva's (TEVA.TA) (TEVA.O) $81.50-a-share deal is a nearly 12 percent premium over Valeant's (VRX.TO) $73-a-share offer, which Valeant made public on March 29. Valeant said on Monday after the joint Teva-Cephelon announcement that it was withdrawing its offer.
via news.yahoo.com
