Valeant Inks $344M Deal For Skin Care Co. Obagi

Law360, New York (March 20, 2013, 4:08 PM EDT) -- Canadian drugmaker Valeant Pharmaceuticals International Inc. will pay $343.8 million for skin care specialist Obagi Medical Products Inc. in a move that reinvigorates its dealmaking activity after a flurry of big-ticket pickups last year, the company said Wednesday.

Under the deal's terms, Obagi stockholders will receive a $19.75 payout for each of their shares, a 28 percent premium to Tuesday's close. With approvals from a majority of Obagi shareholders and regulators, the companies said they expect to button up the deal in the first half of...
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