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Valeant Pharmaceuticals International Inc Agrees to acquire Solta Medical Inc for C$2.92 per share in cash


Monday, 16 Dec 2013 08:01am EST 

Valeant Pharmaceuticals International Inc:Enters into a definitive agreement under which Valeant will acquire all of the outstanding common stock of Solta Medical Inc for C$2.92 per share in cash.Which represents a 40 pct premium to Solta's closing share price on Dec. 13 the last trading day prior to announcement, or a transaction value of about C$250 million.The transaction is expected to close in the first quarter of 2014.Under the terms of the agreement, Valeant will commence a tender offer for all outstanding shares of Solta at a price of C$2.92 per share in cash.Piper Jaffray & Co. acted as financial advisor to Solta and Fenwick & West LLP acted as legal advisor to Solta. Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisor to Valeant.