Salix rejects several bid approaches from Endo
Salix Pharmaceuticals (NASDAQ:SLXP), a North Carolina-based drug manufacturer, has rejected several bid approaches from Ireland-based rival Endo International, according to a newswire report. A Reuters report on Friday evening, 13 February cited a person familiar with the matter who said Endo is still interested in Salix despite the target company rebuffing several written expressions of interest in a takeover.
Spokespersons for Salix and Endo were not immediately available for comment, the item said.
As previously reported, Valeant Pharmaceuticals International (NYSE:VRX) and Shire (NASDAQ:SHPG) have also been preparing to make offers for Salix.
Salix is considering its options, the item said, noting that the company is currently having issues with inventory and is making management changes.
Salix’s market capitalisation stood at USD 9.70bn (EUR 8.51bn) at the close of trading in New York on Friday.
Background:
Reuters reported last month that Salix had hired Centerview Partners to advise on a potential sale.