(Reuters) - Canada's Valeant Pharmaceuticals International Inc (TO:VRX) (N:VRX) has arranged financing for a potential takeover bid for bowel-drug maker Salix Pharmaceuticals Ltd (O:SLXP), Bloomberg reported, citing people familiar with the matter.
Valeant will likely bid more than $150 per share for the company, Bloomberg said, quoting one of those people. (http://bloom.bg/16YHzmJ)
A bid of $150 per share would value Salix at about $9.6 billion. Salix's stock was up 4.6 percent at $149.82 in afternoon trading on the Nasdaq on Thursday.
Salix, based in Raleigh, North Carolina, was not immediately available for comment. A Valeant spokeswoman said the company does not respond to market rumors or speculation.
Bloomberg, citing sources, reported earlier this month that British drugmaker Shire Plc (L:SHP) (O:SLXP) was also interested in Salix. (http://bloom.bg/1Da0N5B)
Valeant's U.S.-listed shares were up about 1.9 percent at $167.45 on the New York Stock Exchange. The company's Canadian shares were up about 0.6 percent at C$209.