Medicis Pharmaceutical (MRX +38%) hovers just below the $44 takeout price offered from Valeant...
Tuesday, September 4, 2012, 10:50 AM ETMedicis Pharmaceutical (MRX +38%) hovers just below the $44 takeout price offered from Valeant Pharmaceuticals (VRX +14.8%), suggesting that investors aren't expecting any better offers to emerge. Canaccord plays down likelihood of higher bids from other competitors, primarily because the fit is a good one for both companies and supported by both boards. RBC agrees, saying it's a good strategic fit that will likely add 10% to VRX's bottom line.
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