Saturday, December 16, 2017
 
 
News: Page (1) of 1 - 07/16/12 Email this story to a friend. email article Print this page (Article printing at MyDmn.com).print page facebook
TPG buying Par Pharmaceutical for about $1.84B
TPG affiliate buying Par Pharmaceutical for about $1.84 billion in cash
By The Associated Press

WOODCLIFF LAKE, N.J. (AP) ¯¯¯ The generic drugmaker Par Pharmaceutical Cos. Is being acquired for about $1.84 billion in cash by an affiliate of private investment firm TPG.

TPG will pay $50 per share, which is a 37 percent premium to Par's Friday closing price of $36.58. The companies put the total value of the deal at $1.9 billion.

Par's stock jumped $13.52, or 37 percent, to $50.10 in premarket trading on Monday.



Par says its board unanimously approved the buyout. It may seek out third-party proposals through Aug. 24.

The acquisition needs the approval of a majority of Par's outstanding stock.

If a superior proposal is not received, the transaction is expected to close before year's end.


Page: 1


 
 
 
 
 
 
 
 
 
 
 





Our Privacy Policy --- About The U.S. Daily News - Contact Us - Advertise With Us - Privacy Guidelines