Medicis Pharmaceutical (MRX +38%) hovers just below the $44 takeout price offered from Valeant...

|About: Valeant Pharmaceuticals Int... (VRX)|By:, SA News Editor

Medicis 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.