Despite Uncertainty, Valeant’s Huge Bond Sale Proceeds

A giant junk bond deal — the third largest in history — is moving forward, even though the proceeds are going to fund an acquisition that the company has been outbid for. Valeant Pharmaceuticals International (VRX)  is marketing $9.6 billion in bonds to finance its planned acquisition of Salix Pharmaceuticals (SLXP) for $10.1 billion, or [...]