UPDATE: TEVA To Buy Cephalon for $6.8 billion; Shares Rise In Pre-Market Trading

Shares of Cephalon Inc CEPH and Teva Pharmaceutical Industries TEVA gained in pre-market trading after TEVA agreed to purchase Cephalon for $6.8 billion. Teva's cash offer of $81.50 per share represents a 6% premium over Cephalon closing price on Friday. CEPH shares gained 6.01% to $81.65 in pre-market trading, while TEVA shares rose 3.32% to $47.25 in pre-market trading. Read more from Benzinga's Company news.