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Article: Connetics Corporation to Merge into Stiefel Laboratories.
- Article from:
- PR Newswire
- Article date:
- October 23, 2006
CopyrightCOPYRIGHT 2006 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Strategic Combination to Create World's Premier Dermatology Company
CORAL GABLES, Fla., Oct. 23 /PRNewswire/ -- Stiefel Laboratories Inc., the world's largest independent pharmaceutical company specializing in dermatology, today announced that it has signed a definitive merger agreement pursuant to which Stiefel will purchase all the outstanding shares of Connetics Corporation for $17.50 per share. This transaction is valued at approximately $640 million. Upon the closing of the transaction, Connetics Corporation will merge into a wholly owned subsidiary of Stiefel. The transaction is subject to customary conditions including receipt of regulatory approval and ...
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