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Cephalon snubs Valeant, agrees to $6.8bn acquisition by Teva

Executive Summary

Just over a month after receiving a hostile offer from Valeant Pharmaceuticals International Inc., leading biotechnology company Cephalon Inc. has signed a definitive agreement to be acquired instead by Teva Pharmaceutical Industries Ltd. for $81.50 in cash per share, a 45% premium to the ten-day average prior to Valeant’s announcement in late March. The new deal values Cephalon at $6.8bn based on the 76.2mm shares outstanding on April 8, 2011 (the most recent figure available), plus $594mm in assumed debt.
Deal Industry
  • Biotechnology
  • Pharmaceuticals
    • Specialty Pharmaceuticals
Deal Status
  • Final
Deal Type
  • Acquisition
    • Full Acquisition
    • Includes Contract
    • Payment Includes Cash

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