Reuters: Hot Stocks: Salix Pharma agrees to buy Santarus for about $2.6 bln

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Salix Pharma agrees to buy Santarus for about $2.6 bln Nov 7th 2013, 21:23 Thu Nov 7, 2013 4:23pm EST Nov 7 (Reuters) - Salix Pharmaceuticals Ltd said it has agreed to buy Santarus Inc for about $2.6 billion to acquire the specialty biopharmaceutical company's portfolio of gastrointestinal drugs. The $32 per share offer price is a 37 percent premium to Santarus' Thursday close of $23.22 on the Nasdaq. Santarus said it expects the deal - approved by both companies' boards - to close in the first quarter of 2014. Santarus also said it expects the acquisition to provide "significant accretion" in 2014. (Reporting by Zeba Siddiqui in Bangalore; Editing by Joyjeet Das)

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