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The Deal: ViroPharma Inc. has signed a definitive agreement to acquire Lev Pharmaceuticals for $442.9 million. Under the terms of the agreement, each share of Lev will be exchanged for $2.25 in cash plus $0.50 in ViroPharma common stock. The deal price represents a premium of 49 percent over Lev's share price prior to the deal announcement. ViroPharma may make additional payments of up to $1 per share contingent on the achievement of certain regulatory and commercial milestones, giving the acquisition a potential value of up to $617.5 million. The transaction has been unanimously approved by the boards of both companies. The companies expect the deal to close by the end of 2008, subject to shareholder and regulatory approval.