(Reuters) - Endo International Plc ENDP.O has expressed interest multiple times to buy Salix Pharmaceuticals Ltd SLXP.O but has been rebuffed by the U.S. maker of bowel drugs, according to a person familiar with the matter.
Endo, which makes drugs that focus on pain management, and its advisers have sent several letters to the company, and it remains interested in a potential takeover, said the person, who asked not to be identified because the deliberations are confidential.
Representatives for Endo and Salix could not immediately be reached for comment.
Valeant Pharmaceuticals International VRX.TO and Shire Plc SHP.L have also taken steps toward a bid for Salix, sources previously told Reuters. Salix has a market capitalization of $9.5 billion.
Valeant and Shire could ultimately decide against a bid, given the complexity of any deal.
Salix is working with advisers to consider its options in the midst of a management shakeup and inventory issues.
Last November, Salix announced that supply levels for its irritable bowel syndrome drug, Xifaxan, and other drugs were higher than it had previously indicated, forcing it to slash its full-year earnings forecast.
While Salix last month resolved an accounting problem related to its inventory issue, the company may still face other fines and litigation that could stymie a potential deal, the sources previously said. Shares fell 37 percent the day the company disclosed its inventory issue. Continued...
Endo, which makes drugs that focus on pain management, and its advisers have sent several letters to the company, and it remains interested in a potential takeover, said the person, who asked not to be identified because the deliberations are confidential.
Representatives for Endo and Salix could not immediately be reached for comment.
Valeant Pharmaceuticals International VRX.TO and Shire Plc SHP.L have also taken steps toward a bid for Salix, sources previously told Reuters. Salix has a market capitalization of $9.5 billion.
Valeant and Shire could ultimately decide against a bid, given the complexity of any deal.
Salix is working with advisers to consider its options in the midst of a management shakeup and inventory issues.
Last November, Salix announced that supply levels for its irritable bowel syndrome drug, Xifaxan, and other drugs were higher than it had previously indicated, forcing it to slash its full-year earnings forecast.
While Salix last month resolved an accounting problem related to its inventory issue, the company may still face other fines and litigation that could stymie a potential deal, the sources previously said. Shares fell 37 percent the day the company disclosed its inventory issue. Continued...
Endo?? Everybody in the pool!
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