Par Pharmaceutical Pops 38% after Acquisition

Shares of Par Pharmaceuticals

were seeing increased strength during Monday's trading session after TPG announced it would acquire the company for about $1.9 billion. Under the terms of the agreement, Par shareholders will receive $50.00 in cash for each share of Par common stock, representing a premium of approximately 37% over the closing share price on July 13, 2012, the last full trading day before today's announcement. The agreement was unanimously approved by Par's Board of Directors. Monday, shares of Par Pharmaceuticals were trading up over 37 percent, at about $50.34 per share.