NuPathe Nixes Endo Deal, OKs $114M Teva Takeover

Law360, New York (January 21, 2014, 12:14 PM EST) -- Specialty pharmaceuticals company NuPathe Inc. accepted a $114.3 million takeover bid from Israel-based Teva Pharmaceutical Industries Ltd., discarding a December deal to sell itself to Endo Health Solutions Inc. for $105 million, according to a Tuesday statement.

Teva's offer, which was largely similar to Endo's, extends investors $3.65 per share versus Endo's offer of $2.85 a share, according to SEC filings. Teva will also cover the $5 million breakup fee paid to Endo for backing out of the transaction, which was supposed to close in the...
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