Billionaire John Paulson Backs Valeant’s Takeover Of Salix Pharmaceuticals Amid Consolidation Bet

Forbes – Paulson & Co. is supportive of Valeant Pharmaceuticals $158 a share takeover of Salix Pharmaceuticals, after the merger focused hedge fund added to its bets on the consolidation of the pharmaceutical sector in the fourth quarter by taking a top position in Salix.

The hedge fund called Sunday’s deal “very accretive to Valeant,” while it also said the merger “removes near term uncertainty for Salix.” In recent months, Paulson & Co. took an accounting restatement by Salix as an opportunity to build a leading 9.11% stake in the drug maker. The John Paulson-run hedge fund also holds 520,700 Valeant shares.

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