Company Acquired (Location)

Acquiring Company (Location)

Date Reported

Date Terminated

Value (M)@

Terms/Details

Afexa Life Sciences Inc. (Edmonton, Alberta)

Paladin Labs Inc. (Montreal)

8/11

ND

C$83.5 ($82)

Paladin made an offer to acquire all existing and outstanding shares of Afexa Life Sciences for C55 cents per share; Afexa's board recommended shareholders reject the unsolicited offer; the company entered an agreement with Valeant Pharmaceuticals International Inc. instead, and Paladin said it is reviewing the bid; Paladin later offered C81 cents per share; it pulled out when Valeant increased a termination fee and Afexa's board voted to take Valeant's offer

Allos Therapeutics Inc. (Westminster, Colo.)

AMAG Pharmaceuticals Inc. (Lexington, Mass.)

7/21

10/24

$194

AMAG was to own 61% and Allos 39%, paying about $1.84 for each share; Allos' board began negotiations with an unnamed pharmaceutical firm, which offered $2.20 per share; AMAG's shareholders voted against the deal, terminating the merger

Cephalon Inc. (Frazer, Pa.)

Valeant Pharmaceuticals International Inc. (Mississauga, Ontario)

3/30

5/3

$5.7B

Valeant went hostile on a $73-per share, $5.7B bid for Cephalon following its disapproval of Cephalon offering $163M for the remaining shares of ChemGenex Pharmaceuticals Ltd. that it does not already own; Cephalon rejected the bid; Valeant took the offer to stockholders and moved to replace Cephalon's board, but withdrew the offer after Cephalon received a $6.8B offer from Teva Pharmaceuticals

Notes:

@ Conversions of non-U.S. currencies are calculated using the rate on the date the transaction closed, or for pending deals, on the date it was announced.