TPG agrees to buy generic drugmaker Par for $1.9 bln
By Staff Reporter
Jul 16, 2012 11:18 AM EDT
Deals
Private equity firm TPG said on Monday it would acquire U.S.-based Par Pharmaceutical Cos Inc for $1.9 billion in the latest acquisition in the generic drug industry.
The $50-a-share deal represents a nearly 37 percent premium over Par's closing price on Friday.
Under terms of the deal, Par can seek superior bids from third parties through Aug. 24. Should no better deal be found, the TPG deal is expected to close this year.
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