UPDATE: Stifel Downgrades Santarus Following SLXP Acquisition

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In a report published Tuesday, Stifel analyst Annabel Samimy downgraded the rating on

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Santarus

(NASDAQ: SNTS) from Buy to Hold, and removed the $27.00 price target.In the report, Stifel noted, “Following the acquisition announcement by Salix at $32/share, we are downgrading SNTS to Hold. This represented a 39% premium over its average closing price for the 30-trading day period prior to the acquisition. The Hart-Scott Rodino waiting period for the SNTS acquisition has expired and SLXP has commenced a tender offer for the shares. The transaction is expected to close 1Q14.”Santarus closed on Monday at $31.94.