MISSISSAUGA, Ontario, Canada (TheStreet) -- Valeant Pharmaceuticals (VRX) approached Swedish specialty drug maker Meda AB about a takeover, The Wall Street Journal reported, citing people familiar with the matter.
A deal could be worth more than $4 billion. Meda, which trades in Stockholm, has a market value of about $3.4 billion.
Valeant made the approach within the past two weeks, the Journal said. The people warned the deal may not happen. Valeant's last try at a big deal, a hostile takeover of Cephalon (CEPH) in March, failed.
Meda makes respiratory, cardiology, dermatology and pain and inflammation drugs, and has a business similar to Valeant's, according to the Journal.-- Written by Joseph Woelfel
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