Article: Connetics Corporation to Merge into Stiefel Laboratories.

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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