13th Feb 2015 06:39
LONDON (Alliance News) - Shire PLC is understood to have make preparations towards making a bid for US drugmaker Salix Pharmaceuticals Inc and is working with advisers on a potential offer, Reuters reported on Thursday.
Citing people familiar with the matter, Reuters said Shire is evaluating how to finance a bid for Salix, which makes drugs to treat gastrointestinal disorders, though they cautioned the Irish pharmaceuticals company could still decide against proceeding due to the complexity of the deal and owing to a potential rival offer set to emerge from Valeant Pharmaceuticals International Inc.
Salix, which has a market capitalisation of around USD9.2 billion, is considering its options following a management shake-up and inventory issues, according to a Reuters source.
http://uk.reuters.com/article/2015/02/12/uk-salix-m-a-shire-exclusive-idUKKBN0LG33020150212
Shire's market cap is GBP28.6 billion. It purchased the US's NPS Pharmaceuticals Inc for USD5.2 billion in January.
By Sam Unsted; [email protected]; @SamUAtAlliance
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