Biotech Values

[DewDiligence]

PRX agrees to conditional buyout by private-equity firm at $50/sh, a 37% premium to Friday’s close:

http://finance.yahoo.com/news/par-pharmaceutical-companies-enters-definitive-120000384.html

Under the terms of the merger agreement, Par may solicit superior proposals from third parties through August 24, 2012. The Par Board of Directors, with the assistance of its advisors, will actively solicit acquisition proposals during this period. There are no guarantees that this process will result in a superior proposal. If there is no superior proposal, the transaction is expected to close in 2012, subject to customary approvals and closing conditions. Par and the Board of Directors do not intend to disclose developments with respect to the solicitation process unless and until the Board of Directors has made a decision.

I’ll add this deal to the biotech-buyout table in the iBox and will edit the table if a better offer is accepted.