Valeant Buys Salix for $14.5B
Valeant Pharmaceuticals International, based in Lavalle, Quebec, Canada, with U.S. headquarters in Bridgewater, New Jersey, announced Feb. 23 its acquisition of fellow drugmaker Salix Pharmaceuticals Ltd. of Raleigh, North Carolina, for about $14.5 billion in cash and stock.
February 26, 2015 at 07:48 PM
2 minute read
Valeant Buys Salix for $14.5B
Valeant Pharmaceuticals International, based in Lavalle, Quebec, Canada, with U.S. headquarters in Bridgewater, New Jersey, announced on Feb. 23 its acquisition of fellow drug maker Salix Pharmaceuticals Ltd. of Raleigh, North Carolina, for about $14.5 billion in cash and stock. A team at Sullivan & Cromwell led by Los Angeles-based Alison Ressler and including lawyers from Palo Alto, California, Washington, D.C., and New York City, advised Valeant in the transaction, while a team from Cadwalader, Wickersham & Taft, led by Christopher Cox in New York City, and including attorneys from Washington, D.C., and Charlotte, North Carolina, advised Salix.
|Revel Casino Hotel Sells for $82M
Revel Hotel Casino in Atlantic City, New Jersey, announced on Feb. 24 that it has been sold to Wellington, Florida-based country club Polo North Country Club, the legal entity of businessman Glenn Straub, for about $82 million—approximately $13 million less than the $95 million original sale price Polo North had agreed to pay last September. John Cunningham of White & Case's New York City and Miami offices represented Revel in the transaction, while Freehold, New Jersey-based solo Stuart Moskovitz advised Straub.
|Panasonic Acquires TS Sports
Newark, New Jersey-based Panasonic Corporation of North America, the U.S. headquarters of electronics manufacturer Panasonic Corp. of Osaka, Japan, on Feb. 19 announced its acquisition of TS Sports, an LED video display solutions company in Dallas, Texas. Panasonic plans to fold TS into Panasonic Enterprise Solutions Company, its audio-visual business operation also in Newark.
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