Endo completes acquisition of Paladin Labs
On November 5, 2013, Endo Health Solutions Inc. (Endo Health) reported that it agreed to buy Canadian specialty-pharmaceutical company Paladin Labs Inc. (Paladin).
As part of the acquisition, which closed on February 28, 2014, Endo Health and Paladin were combined under a new company, incorporated in Ireland, named Endo International plc (Endo International), which will trade on both the NASDAQ and the Toronto Stock Exchange.
Under the terms of the transaction, valued at approximately C$2.7 billion, Paladin shareholders received 1.6331 shares of Endo International stock and C$1.16 in cash for each Paladin share they owned upon closing. In addition, for each Paladin share owned at closing, shareholders of Paladin received one share of Knight Therapeutics Inc. (Knight Therapeutics), a newly formed Canadian company that was separated as part of the transaction. Shareholders of Endo Health received one share of Endo International for each share of Endo Health they owned upon closing.
Paladin is a specialty pharmaceutical company focused on acquiring or in-licensing innovative pharmaceutical products for the Canadian and world markets.
Endo is a U.S.-based specialty healthcare company offering a suite of diagnostics, drugs and devices primarily used in pain management.
Further information can be found on PR Newswire's website.