Salix Pharmaceuticals, Ltd. Announces Expiration Of Hart-Scott-Rodino Waiting Period For Acquisition Of Santarus Inc.

Published: Dec 10, 2013

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RALEIGH, N.C.--(BUSINESS WIRE)--Salix Pharmaceuticals, Ltd. (NASDAQ:SLXP) (“Salix”) today announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the “HSR Act”) in connection with Salix’s proposed acquisition of Santarus, Inc. (NASDAQ:SNTS) (“Santarus”) has expired. As previously announced, on December 3, 2013, Salix’s indirect wholly owned subsidiary, Willow Acquisition Sub Corporation (“Purchaser”), initiated a tender offer to purchase all of the issued and outstanding shares of common stock, par value $0.0001 per share, of Santarus at a purchase price of $32.00 per share, net to the seller in cash, without interest and subject to any required withholding taxes. The tender offer is being made in connection with the previously announced definitive merger agreement, dated as of November 7, 2013, among Salix, Salix Pharmaceuticals, Inc., a wholly owned subsidiary of Salix (“Intermediary”), Purchaser and Santarus.

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