Endo International to buy Par Pharmaceutical for $8 billionStaff writer ▼ | May 18, 2015
Endo International Plc said it would buy Par Pharmaceutical Holdings from TPG Capital for about $8 billion, including debt.
Acquisition $6.5 billion in cash for Par Pharma
Par Pharmaceutical was acquired by TPG Capital for $1.9 billion in 2012 following pressure from activist firm Relational Investors LLC to sell itself. The company, which filed with U.S. regulators in March for an initial public offering of common stock, had debt of $2.35 billion as of March 31.
Par operates through its generics division, Par Pharmaceutical, and its proprietary products division, Strativa Pharmaceuticals.
Endo said it had secured financing from Deutsche Bank and Barclays to fund the cash consideration. ■