Valeant Comments On Endo Offer To Acquire Salix
2015-03-11 22:10:14.768 GMT
Valeant Comments On Endo Offer To Acquire Salix
PR Newswire
LAVAL, Quebec and RALEIGH, N.C., March 11, 2015
LAVAL, Quebec and RALEIGH, N.C., March 11, 2015 /PRNewswire/ -- Valeant
Pharmaceuticals International, Inc. (NYSE: VRX) (TSX: VRX) today issued the
below statement in response to Endo International PLC's (NASDAQ: ENDP)
unsolicited offer to acquire Salix Pharmaceuticals, Ltd. (NASDAQ: SLXP):
"We are firmly committed to our all-cash agreed transaction, which delivers
immediate and certain value to Salix shareholders. The tender offer is
scheduled to expire at the end of the day on March 31, 2015, and Valeant
expects to be in the position to close the transaction on April 1, 2015."
On February 22, 2015 Valeant and Salix announced a definitive agreement under
which Valeant will acquire all of the outstanding common stock of Salix for
$158 per share in cash. The transaction is subject to customary closing
conditions and regulatory approval.
About Valeant
Valeant Pharmaceuticals International, Inc. (NYSE/TSX:VRX) is a multinational
specialty pharmaceutical company that develops, manufactures and markets a
broad range of pharmaceutical products primarily in the areas of dermatology,
eye health, neurology and branded generics. More information about Valeant can
be found at www.valeant.com.
Forward-looking Statements
This press release may contain forward-looking statements, including, but not
limited to, statements regarding the proposed acquisition by Valeant of Salix
and the expected timing and benefits of the transaction. Forward-looking
statements may generally be identified by the use of the words "anticipates,"
"expects," "intends," "plans," "should," "could," "would," "may," "will,"
"believes," "estimates," "potential," "target," or "continue" and variations
or similar expressions. These statements are based upon the current
expectations and beliefs of management of Valeant and Salix and are subject to
certain risks and uncertainties that could cause actual results to differ
materially from those described in the forward-looking statements. These risks
and uncertainties include, but are not limited to, the risk that the
acquisition will not close when expected or at all; the risk that Valeant's
business and/or Salix's business will be adversely impacted during the
pendency of the acquisition; the risk that the operations of the two companies
will not be integrated successfully; and risks and uncertainties discussed in
Valeant's and Salix's most recent annual or quarterly report and detailed from
time to time in Valeant's and Salix's other filings with the Securities and
Exchange Commission (the "SEC") and, with respect to Valeant, the Canadian
Securities Administrators, which factors are incorporated herein by reference.
Readers are cautioned not to place undue reliance on any of these
forward-looking statements. These forward-looking statements speak only as of
the date hereof. Valeant undertakes no obligation to update any of these
forward-looking statements to reflect events or circumstances after the date
of this press release or to reflect actual outcomes.
This press release is neither an offer to purchase nor a solicitation of an
offer to sell shares of Salix. Valeant filed a Tender Offer Statement on
Schedule TO with the SEC on March 4, 2015. Salix filed a
Solicitation/Recommendation Statement on Schedule 14D-9 with respect to the
offer on March 6, 2015. Stockholders of Salix are urged to read the tender
offer materials (including the Offer to Purchase, a related Letter of
Transmittal and certain other offer documents) and the
Solicitation/Recommendation Statement, in each case as amended (to the extent
applicable), because they contain important information which should be read
carefully before any decision is made with respect to the tender offer. The
Offer to Purchase, the related Letter of Transmittal and certain other offer
documents, as well as the Solicitation/Recommendation Statement, have been
made available to all stockholders of Salix at no expense to them. The Tender
Offer Statement and the Solicitation/Recommendation Statement are available to
all stockholders of Salix free of charge at the website maintained by the SEC
at www.sec.gov. In addition, the tender offer statement and other documents
that Valeant files with the SEC are and will be made available to all
stockholders of Salix free of charge at www.valeant.com. The
Solicitation/Recommendation Statement and the other documents filed by Salix
with the SEC are, and will be, made available to all stockholders of Salix
free of charge at www.salix.com.
Contact Information:
Valeant Investors:
Laurie W. Little
949-461-6002
laurie.little@valeant.com
Valeant Media Contacts:
Sard Verbinnen & Co
Renée Soto/ Meghan Gavigan/Jared Levy
212-687-8080
Valeant Pharmaceuticals International, Inc.
Logo - http://photos.prnewswire.com/prnh/20101025/LA87217LOGO
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/valeant-comments-on-endo-offer-to-acquire-salix-300049357.html
SOURCE Valeant Pharmaceuticals International, Inc.
Website: http://www.valeant.com
-0- Mar/11/2015 22:10 GMT
2015-03-11 22:10:14.768 GMT
Valeant Comments On Endo Offer To Acquire Salix
PR Newswire
LAVAL, Quebec and RALEIGH, N.C., March 11, 2015
LAVAL, Quebec and RALEIGH, N.C., March 11, 2015 /PRNewswire/ -- Valeant
Pharmaceuticals International, Inc. (NYSE: VRX) (TSX: VRX) today issued the
below statement in response to Endo International PLC's (NASDAQ: ENDP)
unsolicited offer to acquire Salix Pharmaceuticals, Ltd. (NASDAQ: SLXP):
"We are firmly committed to our all-cash agreed transaction, which delivers
immediate and certain value to Salix shareholders. The tender offer is
scheduled to expire at the end of the day on March 31, 2015, and Valeant
expects to be in the position to close the transaction on April 1, 2015."
On February 22, 2015 Valeant and Salix announced a definitive agreement under
which Valeant will acquire all of the outstanding common stock of Salix for
$158 per share in cash. The transaction is subject to customary closing
conditions and regulatory approval.
About Valeant
Valeant Pharmaceuticals International, Inc. (NYSE/TSX:VRX) is a multinational
specialty pharmaceutical company that develops, manufactures and markets a
broad range of pharmaceutical products primarily in the areas of dermatology,
eye health, neurology and branded generics. More information about Valeant can
be found at www.valeant.com.
Forward-looking Statements
This press release may contain forward-looking statements, including, but not
limited to, statements regarding the proposed acquisition by Valeant of Salix
and the expected timing and benefits of the transaction. Forward-looking
statements may generally be identified by the use of the words "anticipates,"
"expects," "intends," "plans," "should," "could," "would," "may," "will,"
"believes," "estimates," "potential," "target," or "continue" and variations
or similar expressions. These statements are based upon the current
expectations and beliefs of management of Valeant and Salix and are subject to
certain risks and uncertainties that could cause actual results to differ
materially from those described in the forward-looking statements. These risks
and uncertainties include, but are not limited to, the risk that the
acquisition will not close when expected or at all; the risk that Valeant's
business and/or Salix's business will be adversely impacted during the
pendency of the acquisition; the risk that the operations of the two companies
will not be integrated successfully; and risks and uncertainties discussed in
Valeant's and Salix's most recent annual or quarterly report and detailed from
time to time in Valeant's and Salix's other filings with the Securities and
Exchange Commission (the "SEC") and, with respect to Valeant, the Canadian
Securities Administrators, which factors are incorporated herein by reference.
Readers are cautioned not to place undue reliance on any of these
forward-looking statements. These forward-looking statements speak only as of
the date hereof. Valeant undertakes no obligation to update any of these
forward-looking statements to reflect events or circumstances after the date
of this press release or to reflect actual outcomes.
This press release is neither an offer to purchase nor a solicitation of an
offer to sell shares of Salix. Valeant filed a Tender Offer Statement on
Schedule TO with the SEC on March 4, 2015. Salix filed a
Solicitation/Recommendation Statement on Schedule 14D-9 with respect to the
offer on March 6, 2015. Stockholders of Salix are urged to read the tender
offer materials (including the Offer to Purchase, a related Letter of
Transmittal and certain other offer documents) and the
Solicitation/Recommendation Statement, in each case as amended (to the extent
applicable), because they contain important information which should be read
carefully before any decision is made with respect to the tender offer. The
Offer to Purchase, the related Letter of Transmittal and certain other offer
documents, as well as the Solicitation/Recommendation Statement, have been
made available to all stockholders of Salix at no expense to them. The Tender
Offer Statement and the Solicitation/Recommendation Statement are available to
all stockholders of Salix free of charge at the website maintained by the SEC
at www.sec.gov. In addition, the tender offer statement and other documents
that Valeant files with the SEC are and will be made available to all
stockholders of Salix free of charge at www.valeant.com. The
Solicitation/Recommendation Statement and the other documents filed by Salix
with the SEC are, and will be, made available to all stockholders of Salix
free of charge at www.salix.com.
Contact Information:
Valeant Investors:
Laurie W. Little
949-461-6002
laurie.little@valeant.com
Valeant Media Contacts:
Sard Verbinnen & Co
Renée Soto/ Meghan Gavigan/Jared Levy
212-687-8080
Valeant Pharmaceuticals International, Inc.
Logo - http://photos.prnewswire.com/prnh/20101025/LA87217LOGO
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/valeant-comments-on-endo-offer-to-acquire-salix-300049357.html
SOURCE Valeant Pharmaceuticals International, Inc.
Website: http://www.valeant.com
-0- Mar/11/2015 22:10 GMT