Salix Pharma agrees to buy Santarus for about $2.6 bln

Thursday, 7 Nov 2013 | 4:23 PM ET

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)

  Price   Change %Change