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Business

Horizon Increases Offer For Depomed

by Ann M. Thayer
July 27, 2015 | APPEARED IN VOLUME 93, ISSUE 30

Ireland’s Horizon Pharma has increased its unsolicited, all-stock offer to acquire pain and neurology drugmaker Depomed by 13%. Now at $33.00 per share, a deal would be worth about $2 billion. The offer is contingent on California-based Depomed entering into discussions with Horizon, a specialty and orphan drug firm. Depomed has already rejected previous offers and points out that the most recent one does not increase the amount of Horizon stock that Depomed shareholders would receive or their ownership stake but only reflects a recent rise in Horizon’s stock price.

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