Issue Date: July 23, 2012
TPG Will Acquire Par Pharmaceutical
Private investment firm TPG has agreed to acquire Par Pharmaceutical, based in Woodcliff Lake, N.J., in a deal worth $1.9 billion. Under the agreement, Par shareholders will receive $50 in cash for each share, a 37% premium over the share price before the deal was announced. However, Par can look for superior offers through Aug. 24, and its board is actively soliciting them. Par develops generic drugs under the Par name and niche proprietary drugs under the Strativa name.
- Chemical & Engineering News
- ISSN 0009-2347
- Copyright © American Chemical Society