Fly News Breaks for March 16, 2015
ENDP, SLXP, VRX
Mar 16, 2015 | 10:18 EDT
After Valeant (VRX) increased its takeover offer for Salix (SLXP) to $173 per share, Cantor said it doesn't think Valeant is willing to strike out a second time after losing out on Allergan (AGN) and the firm expects the raised all-cash offer to be accepted. The firm also thinks the April 8 deadline before the tender reverts to its prior $158 per share price should pressure Salix shareholders to tender. The firm maintains its Buy rating on Valeant and Hold ratings on Endo (ENDP) and Salix.
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