Drugmaker Valeant Losing Patience In $327M Hostile Bid

Law360, New York (January 6, 2012, 7:50 PM EST) -- Canadian drugmaker Valeant Pharmaceuticals International Inc. is threatening to walk away from its hostile $327 million bid for California-based Ista Pharmaceuticals Inc. unless a deal is struck by the end of the month, according to a Friday regulatory filing.

In hopes of merging Valeant's small ophthalmology operation with Ista's prominent eye care business, Canada's largest drugmaker has proposed a buyout of $6.50 per share, which is a 68 percent premium over a 60-day volume weighted trading average of $3.87 per share, according to investor documents....
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