Valeant Pharmaceuticals (VRX) and L’Oréal (LRLCY) Ink Mega-Deal For Skin-Care Product Lines

Valeant_Pharma_VRX

Valeant Pharmaceuticals International, Inc. (NYSE:VRX) said before the opening-bell Tuesday that French cosmetics company L’Oréal SA (OTCMKTS:LRLCY) has agreed to acquire its CeraVe, AcneFree and AMBI skin-care product lines for $1.3 billion in cash.

The Canadian pharmaceutical and medical device company expects the transaction – subject to customary closing conditions – to be completed in the first half 2017 and plans to use the sale proceeds to repay term-loan debt.

Shares of Valeant surged more than 15% in pre-market trade, following the announcement.

Valeant Pharmaceuticals International, which develops, manufactures, and markets pharmaceuticals, OTC products, and medical devices worldwide, has 341.19M shares outstanding, market capitalization (intraday) of $5.11B and VRX stock 52-week range is from $13.00 to $101.40 per share.

**

Disclaimer: The disclaimer is to be read and fully understood before using our site, or joining our email list. GalaxyStocks is not a registered investment adviser. This material is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. Investors should always conduct their own due diligence with any potential investment, with independent research and other professional advice. Read full disclaimer at http://galaxystocks.com/disclaimer/