Depomed Gets Sweetened $33 Per Share Offer From Horizon Pharma

(Reuters) - Ireland-based Horizon Pharma Plc raised its offer to buy Depomed Inc to $33 per share, contingent on the smaller drugmaker agreeing to start takeover talks.

The equity value of the new offer works out to $1.97 billion, according to Thomson Reuters calculations, and compares with Horizon Pharma's previous offer of $29.25 per share, or about $1.74 billion.

Horizon Pharma had taken its previous offer hostile on July 7 after Depomed refused to engage in talks over a deal.

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