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Santarus to be Acquired by Salix Pharmaceuticals

By Warren Paige

Shares of Santarus Inc. (NASDAQ: SNTS), a specialty biopharmaceutical company, surged in trading on Friday after the company agreed to be acquired by Salix Pharmaceuticals Ltd. (NASDAQ: SXLP). The two companies entered into a definitive agreement under which SLXP will acquire all outstanding shares of Santarus for $32 per share in cash. The offer price from Salix represents a premium of 36% over Santarus’ closing price on November 6, 2013. Santarus shares ended the day 37.60% higher at $31.95 on above average volume of 45.22 million. SLXP shares, meanwhile, ended the day 17.80% higher at $84 on above average volume of 6.64 million.

November 9th, 2013 | Tags: , | Category: Large Cap Growth Stocks

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All stories in DailyStocks.com are for informational purposes only. This is NOT a stock recommendation. This DailyStocks.com story is a daily light analysis featuring a stock with insider buying. With some caveats, insiders purchase a stock because they think the stock is going up. There are other factors to consider such as size of the transaction relative to their compensation and net worth. Sometimes, insiders might be propping a stock price up for future financing. Sometimes, the amount of insider buying are misread or misreported. Each month, DailyStocks releases a a summary of the stocks with insider buying. Sign up for the free monthly newsletter at DailyStocks.com . About Dailystocks.com: DailyStocks.com is the place where you can find stories about stocks with insider buying, where you can educate yourself about stock market investing, and where you can perform the stock search engine analysis – you enter a stock symbol, and you get a resulting page of stock ticker indexed links so that you do not have to type the stock symbol each time.