Alpharma Rebuffs King's Advances

August 2008 | M&A News Alert

There was yet more activity in the pharmaceutical sector this week, when US specialty drug-maker Alpharma rejected a US$1.4bn takeover bid from compatriot firm King Pharmaceuticals, claiming it 'does not reflect the company's inherent value'. Due to the significance of the operational efficiencies that would be realised if the deal goes through, however, CFW expects King to raise its offer - perhaps to US$1.6bn - and eventually acquire Alpharma.

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