TPG Offers $1.9B For Generic Drug Co. Par Pharmaceutical

Law360, New York (July 16, 2012, 12:34 PM EDT) -- An affiliate of Fort Worth, Texas-based private equity firm TPG Capital will hand over $1.9 billion in cash for Par Pharmaceutical Cos. Inc., a generics specialist, to cash in on growing demand for affordable medications as baby boomers age, the pair said Monday.

The $50 per-share price offered to investors represented a 37 percent premium over the drug company's closing price Friday, the day before the deal was unveiled. The proposed transaction, already given the go-ahead by Par Pharmaceutical's board, is subject to shareholder and regulatory...
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