May 18, 2015 6:56 AM
Endo buying Par in $8.05 billion cash-and-stock deal
The Associated Press
NEW YORK (AP) Endo International will spend about $8.05 to acquire Par Pharmaceutical as it expands its footprint in the generic drug market.
The deal includes about 18 million shares of Endo stock and $6.5 billion in cash, along with the assumption of debt. Par, based in Chestnut Ridge, New York, is owned by the private equity firm TPG. The deal is expected to close in the second half of 2015.
Endo, based in Dublin, said it expects its generic drug unit to see double-digit revenue growth with the addition Par's portfolio of products.