Endo Pulls Offer For Salix After Valeant Ups Bid

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Drug maker Endo International Plc on Monday withdrew its offer for Salix Pharmaceuticals Ltd. after Valeant Pharmaceuticals International Inc. upped its bid for the company to $173 a share. Endo last week had started a bidding war with Valeant for Salix that was based on Endo's stock price. Valeant's new offer was slightly ahead of the $172.50-a-share deal Endo had been proposing. In a press statement, Endo said: "While we are disappointed with this outcome, we have been and will continue to be disciplined in our approach to potential acquisitions."

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