Salix Pharmaceuticals announced late Thursday that it has agreed to pay $2.6 billion to acquire specialty pharmaceutical company Santarus and its portfolio of drugs aimed at battling gastrointestinal disorders such as acid reflux.
The deal, which Salix is financing with $800 million in cash and $1.95 billion in debt backed by Jefferies LLC, has yielded roles for two leading Am Law 100 firms.
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