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Published in TZ Latest News 22 February, 2015 by The TZ Newswire Staff

Canada’s Valeant to acquire Salix in $10.1 billion deal

Canada’s Valeant Pharmaceuticals International Inc (VRX.TO) (VRX.N) agreed to acquire gastrointestinal drugmaker Salix Pharmaceuticals Ltd (SLXP.O) in an all-cash deal valued at about $10.1 billion, the two companies said on Sunday. The deal for Salix, known for its irritable bowel syndrome drug Xifaxan, was approved by the boards of directors of both companies, the companies said in a news release. The companies said the deal had an enterprise value of $14.5 billion, which would include Salix’s debt and any cash on hand.

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