Horizon Pharma proposes to acquire Depomed In $3 bn stock deal
07/07/2015 16:55

Horizon Pharma plc, a biopharmaceutical company focused on improving patients' lives by identifying, developing, acquiring and commercializing differentiated and accessible medicines that address unmet medical needs, announced a proposal to acquire all outstanding shares of Depomed, Inc. for a per share consideration of USD 29.25 in an all-stock, tax-free exchange valued at approximately USD 3 billion.

Horizon's proposal represents a premium of 42 per cent to the closing price of Depomed on July 6, 2015. The transaction, if consummated, would be immediately and substantially accretive to Horizon's adjusted diluted earnings per share.

The proposal is subject to the pre-condition of confirmatory due diligence. This pre-condition may be waived by Horizon Pharma plc at its discretion.