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Horizon Pharma Makes Another Bid for Depomed
July 21, 2015.
Horizon Pharma (Dublin, Ireland) has again raised its offer to buy Depomed Inc (Newark, CA). Horizon is now offering $33 (£21.2) per share, contingent on the smaller drugmaker agreeing to start takeover talks, Reuters reports. The equity value of the new offer works out to $1.97 billion, according to Thomson Reuters calculations. Horizon Pharma previously made an offer of $29.25 per share (about $1.74 billion) but Depomed refused to engage in talks. Horizon then raised its offer to $32.25 per share, which was again rejected earlier this week. http://uk.reuters.com/article/2015/07/21/uk-depomed-m-a-horizon-phar-idUKKCN0PV19J20150721
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