Reginal Thomas
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Valeant Close to Acquiring Salix Pharmaceuticals for $10.2 Billion

Valeant Pharmaceuticals Inc. is close to a $10.2 billion deal to acquire drugmaker Salix Pharmaceuticals Ltd. The deal with salix for about $160 per share could come as early as next week. Share's for Salix rose 4.1% to $156.97 in afternoon trading on the Nasdaq. The deal is the largest ever for Valeant. In November, Salix said that supply levels for XIfaxan and other drugs were higher than it had previously indicated, forcing the firm to lower its full year earnings forecast.