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Steps Taken to Replace Board

Valeant Puts its $5.7B Offer to Cephalon's Stockholders

By Catherine Shaffer

Thursday, April 7, 2011
As threatened last week, Valeant Pharmaceuticals International Inc. is moving to replace Cephalon Inc.'s board of directors following a rejection of its $5.7 billion hostile takeover bid. And the big pharma isn't taking "no" as a final answer: It's putting the question to Cephalon stockholders.

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