Ropes & Gray Reps Axcan In $583M Eurand Deal

Law360, New York (December 1, 2010, 1:19 PM EST) -- Pharmaceutical company Axcan Holdings Inc. announced plans Wednesday to acquire rival Eurand NV for approximately $583 million, or $12 per share.

Pursuant to the terms of the agreement, a subsidiary of Axcan will launch a tender offer for all of Eurand's outstanding shares, the companies said, adding that the transaction is expected to close in the second quarter of 2011.

An independent special committee acting on behalf of Eurand's board of directors unaminously approved the acquisition and has recommended that Eurand shareholders tender their shares into...
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