Cephalon (CEPH) Rejects Valeant's (VRX) $73/Share Offer
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Cephalon, Inc. (NASDAQ: CEPH) formally rejected Valeant Pharmaceuticals' (NYSE: VRX) $73 per share unsolicited takeover proposal calling it "inadequate and not in the best interests of Cephalon's shareholders."
Cephalon said the offer significantly undervalues the company, values the company using a "worst-case scenario," is opportunistic and based off 52-week lows, and ascribes little to no value to the company's pipeline.
Cephalon said the offer significantly undervalues the company, values the company using a "worst-case scenario," is opportunistic and based off 52-week lows, and ascribes little to no value to the company's pipeline.
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