Cephalon Inc., the mid-sized specialty pharma company has found a white knight. Just two weeks before a May 12 deadline required shareholders to tender their shares for or against a takeover offer by Valeant Pharmaceuticals International Inc., the company has accepted a $6.8 billion cash offer from Teva Pharmaceutical Industries Ltd.[See Deal][See Deal]
The deal will "transform Teva's branded business, as it will help us deliver on our strategic goal of creating a...