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>> CANADA Latest News

NOV 05, 2013 - Yahoo! News

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Endo Health to buy Canadian peer Paladin Labs

(Reuters) - U.S.-based specialty pharmaceutical company Endo Health Solutions Inc said it would buy Canadian peer Paladin Labs Inc for about $1.6 billion to expand its presence in Canada and emerging markets. Endo will pay C$77 ($73.98) per Paladin share a premium of more than 20 percent to Paladin's Monday close. Endo shares jumped more than 15 percent in premarket trading. Paladin shareholders will receive 1.6331 shares of the combined company and C$1.16 in cash, Endo said, with around 98 percent of the purchase made in stock.

Tags: Endo Health to buy Canadian peer Paladin Labs,  Canada Latest News