29th Apr 2014 10:18
LONDON (Alliance News) - US pharmaceutical company Allergen is preparing to approach Shire PLC about a potential takeover bid, according to people familiar with the matter, Reuters News reports.
Allergen, which is itself facing an unsolicited bid from Valeant Pharmaceuticals International, has already been turned away by Shire in recent months, but is currently eyeing another potential takeover, according to Reuters.
The news comes amid heightened merger and acquisition activity in the pharmaceutical sector, with fellow US drug maker Pfizer confirming Monday that it is pursuing the UK's AstraZeneca PLC with its own takeover offer.
http://www.reuters.com/article/2014/04/28/us-shire-allergan-exclusive-idUSBREA3R16Y20140428
Shire PLC leads FTSE 100 gainers Tuesday, up 117.00 pence, or 3.7% at 3,403.00p.
By Jon Darby; [email protected]; @jondarby100
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