25th Apr 2014 09:30
LONDON (Alliance News) - Botox maker Allergan Inc approached Ireland-based pharmaceutical firm Shire PLC about a possible takeover in recent months, but was rebuffed, Reuters reported late Thursday citing people familiar with the matter.
The approach did not progress to serious discussions, Reuters said. Shire has a market value of USD33 billion and is a member of the FTSE 100.
A spokesperson for Shire told Alliance News the company had "no statement" on the report.
The press report is the latest in a flurry of merger and acquisition speculation in the pharmaceutical sector.
Allergan itself received a USD47 billion takeover offer from Valeant Pharmaceuticals International Inc and activist investor Bill Ackman's Pershing Square Capital Management on Tuesday.
Press reports earlier this week said that AstraZeneca PLC had been approached by US pharmaceutical company Pfizer Inc, which makes Viagra, although AstraZeneca's Chief Executive Pascal Soriot declined to comment on the approach during the company's quarterly results presentation Thursday.
GlaxoSmithKline PLC signed a large three part deal with Novartis AG Tuesday to sell off its Oncology portfolio, acquire Novartis' global Vaccines business, and create a joint Consumer Healthcare business.
Glaxo reports its first quarter results next Wednesday, followed by Shire on Thursday.
Shares in Shire were trading up 0.1% at 3,250.00 pence Friday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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