Zeev's Turnips Patch-No Politics (ZEEV)

[AKvetch]

Teva to acquire Sicor for $3.4 billion
Friday October 31, 10:36 am ET

NEW YORK, Oct 31 (Reuters) - Teva Pharmaceutical Industries Ltd. (Tel Aviv:TEVA.TA - News; NasdaqNM:TEVA - News) on Friday said it would acquire Sicor Inc. (NasdaqNM:SCRI - News) for $3.4 billion in cash and stock, aiming to expand its reach in injectable generic drugs.

Teva, an Israeli company that makes generic drugs and the multiple sclerosis medicine Copaxone, said it would exchange $16.50 in cash and 0.1906 share of its American Depository Receipts for each Sicor share.

That values Sicor at $27.50 per share, a 10 percent premium above the company's closing price of $24.97 on Nasdaq on Thursday.

http://biz.yahoo.com/rc/031031/health_sicor_1.html