The Croatian drug maker Pliva has accepted a $2.2 billion buyout offer from Barr Pharmaceuticals, beating out a competing bid from Actavis Group. The winning bid represents a 38 percent premium over the generic drug maker's stock price the day before it announced it would seek a buyer. "Barr is an ideal partner for future growth in this consolidating industry and an excellent strategic fit with Pliva, which we believe will strongly contribute to the global competitiveness of the new Barr Group," said Pliva CEO Zeljko Covic. Pliva sold its R&D division to GSK earlier this year for $50 million.
- here's the AP report on Pliva