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Merger proposal terminated between QLT, Auxilium
After consulting with financial advisors and legal counselors, Auxilium’s board of directors announced that the proposed merger agreement between QLT and Auxilium has been terminated, according to a QLT press release.Auxilium’s board of directors advised QLT it had reviewed an offer from Endo International to acquire all issued and outstanding Auxilium shares and deemed the proposal superior, as permitted under the terms of the June 25, 2014, merger agreement comprising QLT, Auxilium, QLT Holding Corp. and QLT Acquisition Corp.