Gabelli Reports On VRX Offer For Cephalon

Gabelli has issued a report on Valeant Pharmaceuticals' VRX offer to acquire Cephalon for $73 a share, $5.7 billion total. According to Gabelli, “Valeant Pharmaceuticals VRX is offering $73 per share for Cephalon ($5.7 billion in total) – call at 8:30am… Cephalon has a strong legacy business, plus a European generics business, which makes it attractive.” VRX has a Buy Rating and closed yesterday at $44.39.