Forest Laboratories Inc. (NYSE:FRX) is planning a $1.2 billion takeover of Clinical Data Inc. (NSDQ:CLDA).
Under the terms of the merger agreement between the two companies, Forest Labs will pay $30 per share in cash, with additional milestone payments of up to $6 per share based on the commercial success of Clinical Data’s new antidepressant drug, Viibryd, according to the companies.