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Auxilium Rejects Endo, But Is It Making A Play For More Cash?

This article was originally published in The Pink Sheet Daily

Executive Summary

Negotiations are likely to kick into high gear now that Auxilium officially has rejected Endo’s first offer of $2.2 billion. Auxilium is sticking to its QLT commitment, but the transaction holds little more than a tax-inversion play for the biotech.

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