Endo Health Solutions (ENDP) has agreed to acquire Canadian peer Paladin Labs (PLDLF) for about $1.6B in a cash and stock deal that will expand Endo's presence in emerging markets as well as in Canada.
Endo will pay C$77 ($73.98) a share, representing a premium of over 20% to Paladin's close yesterday.
Endo expects the deal to be immediately accretive to its 2014 adjusted EPS.
Endo's shares are +2.3%. (Endo's Q3 earnings). (PR)