Auxilium says Endo offer undervalues company, but open to talks

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Auxilium says Endo offer undervalues company, but open to talks

(Reuters) - Auxilium Pharmaceuticals Inc said its board had determined that Endo International Plc's $2.2 billion takeover offer "significantly undervalues" the company, but left the door open for talks on a possible deal. Endo, which is seeking to expand its men's healthcare products business, made an unsolicited offer for Auxilium last week, prompting the company to adopt a "poison pill" takeover defense. Auxilium said it maintained the right to engage in discussions with Endo, while Endo said it was willing to work with Auxilium on a deal. ...

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