Axcan Completes Acquisition of Eurand
Axcan Intermediate Holdings Inc. said it completed its buyout of Dutch drug developer Eurand NV.
On February 11, 2011, Axcan completed the acquisition of Eurand N.V., a global specialty pharmaceutical company with operating units in the United States and Europe. Axcan and Eurand will begin joint operations on Monday, February 14, 2011. The offer was made in December.
Axcan Pharma, which specialises in enhanced pharmaceutical and biopharmaceutical products, commenced a tender offer on 21 December 2010 to acquire all outstanding ordinary shares of Eurand at a purchase price of $12 per share.
More than 95% of outstanding shares had been validly tendered at the offer expiry. Axcan has also announced the commencement of a subsequent offering period, where remaining Eurand sh
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