Earlier this morning, Horizon Pharma Plc. (HZNP) made a proposal to acquire Depomed Inc. (DEPO). The purchase would be an all stock deal for $29.25 per share which is a 42% premium over the most recent closing price (July 6th).The transaction is valued at around $3 billion as an all stock type transaction. Right now it is just a proposal so all is dependent on whether Depomed's board of directors agrees to the terms of the deal. 

Horizon first attempted to acquire Depomed this past May, but the deal fell through. Now Horizon Pharma is attempting to propose another offer to see if it can complete the transaction. If the deal goes through, Horizon would automatically see an increase in its earnings since projected 2015 net sales would be $950 million, and adjusted earnings would be $350 million. 

With this acquisition, Horizon Pharma would more than double its current approved drug portfolio to 13 drugs.