Benzinga's M&A Chatter for Monday May 27, 2013
The following are the M&A deals, rumors and chatter circulating on Wall Street for Monday May 27, 2013:
Valeant Pharmaceuticals Announces $8.7B Bausch + Lomb Acquisition
Shares of Valeant Pharmaceuticals (NYSE: VRX) (VRX.TO) rose 10% in Toronto Monday, as Valeant announced that they have entered into a definitive agreement to acquire Bausch + Lomb for $8.7 billion in cash. The deal had first been reported on Friday by Bloomberg.
Under terms of the agreement, Valeant will pay aggregate consideration of $8.7 billion in cash, including $4.5 billion paid to an investor group led by Warburg Pincus and approximately $4.2 billion used to repay Bausch + Lomb's outstanding debt.
The transaction is expected to close in Q3 2013.
Valeant Pharmaceuticals closed in Toronto at $95.85 on Monday, a gain of 10% on twice average volume.
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