Dublin-based drug maker Endo engaged Joele Frank for PR to back its surprise $11.2B bid for Salix Pharmaceuticals, which already inked a $10B deal to be sold to Valeant Pharmaceuticals.
Sard Verbinnen & Co. (Valeant) and Teneo Strategy (Salix) are working the PR front for the Valeant-Salix tie-up.
Endo went public with its $175-per-share, cash and stock offer March 11, pitching it as a “superior proposal” to the $158-per-share Valeant-Salix deal, which is all cash.
Valeant responded to the Endo entry by re-affirming its commitment to the deal, adding that it “expects to be in a position to close” its tender offer on April 1.
Endo and Valeant are after Salix’ profitable irritable bowel syndrome treatments like Uceris and Xifaxan.
The Wall Street Journal, citing Dealogic data, reported that the pharmaceutical sector saw $268B in M&A activity last year.
Edelman handles Viking Holdings, the river and ocean luxury cruise line that plans to raise $1B via an IPO priced in the $21 to $25 per share range.
Teneo is handling the initial public offering of CVC Capital Partners, one of Europe’s largest private equity firms with nearly $200B in assets under management.
Brunswick Group represents Endeavor Group Holdings as it agrees to go private via its acquisition by Silver Lake technology investment firm, which is handled by Edelman Smithfield.
Tod Donhauser, a nine-year veteran of Edelman, has joined H/Advisors Abernathy as managing director and head of its San Francisco office.
Intelligent Group Ltd, a Hong Kong-based financial PR firm, has priced its initial public offering of 1.9M shares at $4, which is the low end of the $4 to $5 range.
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