Friday, November 8, 2013

Santarus Acquired by Salix Pharmaceuticals For $2.6 Billion

San Diego-based biopharmaceuticals firm Santarus has agreed to be acquired by Salix Pharmaceuticals, in a deal worth $2.6 billion, the two said late Thursday. According to the two, Salix will pay $32.00 per share in cash for Santarus, which the companies said is a 36 percent premium over Santarus' closing price on Wednesday. The two said the deal has been unanimously approved by the boards of both companies. Santarus was advised by Stifel, Nicolaus & Company and Latham & Watkins LLP in the deal; Salix was advised by Jeffries LLC and Covington & Burling LLP.