Par Pharmaceuticals Cos. has agreed to a takeover by private-equity firm TPG Captial causing shares to surge above $50 dollars on Monday. The deal will see TPG acquiring Par for $1.84 Billion in cash. Par specializes in making generic drugs and niche pharmaceuticals. In late 2011 and early 2012 it acquired generic pharmaceutical companies Anchen Pharmaceuticals, and Edict Pharmaceuticals, allowing Par to increase its generic drug operations. Par has said that its board unanimously approved the buyout, but the deal needs the approval of the majority of Par’s outstanding stockholders. The deal is estimated to finish before the end of 2012.
