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Exclusive: Horizon Pharma explores potential stake sale - sources

Specialty pharmaceutical company Horizon Pharma Plc (HZNP.O) has hired Bank of America Corp (BAC.N) to help it explore selling a significant equity stake to an investor that would bolster its balance sheet, people familiar with the matter said on Monday.

It is not clear how Horizon would use the proceeds, but the move illustrates the Dublin, Ireland-based company's drive to shore up its capital and position itself for new acquisitions. Horizon has a market capitalization of $2.4 billion and a debt pile of close to $1.3 billion.

Horizon is in the early stages of exploring new financing options, and there is no certainty that any transaction will occur, the people said, asking not to be identified because the deliberations are confidential.

Horizon Pharma and Bank of America declined...


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