Endo expects to implement a permanent capital structure to finance the transaction prior to the close that would include a combination of cash, debt and an equity offering. Endo has secured fully committed financing from Deutsche Bank and Barclays to fund the cash consideration. The purchase price will consist of approximately 18 million shares ($1.55 billion of value based on the 10-day volume weighted average share price of Endo ending on May 15, 2015) of Endo equity and $6.50 billion cash consideration to Par shareholders. There are no further shareholder approvals required. The transaction has been unanimously approved by the Boards of Directors of Endo and Par, and is supported by the management teams of both companies. It is also expected to help drive long-term double-digit revenue growth for Endo. The combination will create a leading specialty pharmaceutical company with a generics business that is one of the industry's fastest growing and among the top five as measured by U.S. today announced that they have entered into a definitive agreement under which Endo will acquire privately-held Par from TPG in a transaction valued at $8.05 billion, including assumption of Par debt.
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