Mallinckrodt Plc to acquire Cadence Pharmaceuticals Inc

Tuesday, 11 Feb 2014 07:00am EST 

Mallinckrodt Plc:Enters into a definitive agreement under which a subsidiary will commence a tender offer to acquire all outstanding shares of Cadence Pharmaceuticals Inc.It is for $14.00 per share in cash or about $1.3 billion on a fully diluted basis.Represents a 32 pct premium to the trailing 30-trading-day volume weighted average price (VWAP) of $10.62 per share for Cadence Pharmaceuticals Inc.The parties expect the transaction to close in mid- to late-Mar. 2014. 

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