Endo completes acquisition of Paladin Labs Endo International (ENDP) announced that it has completed the acquisition of Paladin Labs (PLDLF) in a stock and cash transaction currently valued at approximately $2.7B. The acquisition accelerates Endo's strategic transformation into a leading global specialty healthcare company and creates a platform for future growth in North America and around the globe. In connection with the acquisition, Endo and Paladin Labs have been combined under a new company incorporated in Ireland named Endo International. Shares of Endo International will trade on NASDAQ under the ticker symbol ENDP and the Toronto Stock Exchange under the ticker symbol ENL. Under the terms of the transaction, Paladin Labs shareholders received 1.6331 shares of Endo International stock and C$1.16 in cash for each Paladin Labs share they owned upon closing. In addition, for each Paladin Labs share owned at closing, shareholders of Paladin Labs received one share of Knight Therapeutics a newly formed Canadian company that has been separated as part of the transaction. Shareholders of Endo Health Solutions received one share of Endo International for each share of Endo Health Solutions they owned upon closing.
Endo rallies amid talk of conference cancellation Shares of Endo International are rallying 2% amid talk the company cancelled out of Leerink's conference next week. Endo has no events listed on its website and Bloomberg just reported that according to sources, the company cancelled its appearance at the conference. Shares of Endo are up $1.25 to $55.40 in afternoon trading.