TPG to sell Par Pharma to Endo in $8.05 bln deal

Endo International said Monday it has agreed to buy Par Pharmaceutical Holdings Inc. from TPG Capital in a deal valued at $8.05 billion, including debt. The boards of Endo and Par have both approved the deal. The purchase includes about 18 million Endo shares and $6.5 billion cash to Par shareholders. Deutsche Bank and Barclays are providing financing. TPG acquired Par, a generic drug maker, in 2012 in a $1.9 billion deal. Barclays, Deutsche Bank, and Houlihan Lokey acted as financial advisors to Endo. JP Morgan acted as financial advisor to Par.

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