Synergetics to be acquired by Valeant Pharmaceuticals

Synergetics USA Inc. is being acquired by Valeant Pharmaceuticals International, a Quebec-based pharmaceutical firm.

Valeant will pay $6.50 per share in cash for Synergetics, an O’Fallon, Missouri-based medical device company. The deal would be worth about $166 million, based on the company’s outstanding shares as of June. In addition, Synergetics stockholders will receive another cash payment of up to $1 per share if specific sales milestones are achieved after the sale closes.

The deal is expected to close in the fourth quarter.

Read more from the St. Louis Business Journal

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