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Salix Pharmaceuticals to combine with Cosmo Technologies to form Salix Pharmaceuticals plc

Tuesday, 8 Jul 2014 05:00pm EDT 

Salix Pharmaceuticals Ltd:Says the company and Cosmo Pharmaceuticals S.p.A. announced a definitive merger agreement under which Salix will combine with Cosmo Technologies Limited (Cosmo Tech), a subsidiary of Cosmo.Under the terms of the agreement, Salix will become a wholly-owned subsidiary of Cosmo Tech, which will change its name to Salix Pharmaceuticals, plc and is expected to have its ordinary shares listed and traded on the NASDAQ Global Select Market.Transaction is expected to be modestly accretive to Salix's earnings per share in 2016 and increasingly accretive thereafter.