20th Mar 2015 10:20
LONDON (Alliance News) - Shares in Ironwood Pharmaceuticals Inc were trading higher in the US on Thursday after rumours the company has become an acquisition target and has been approached by European suitors, including Shire PLC, the Daily Mail reports.
The paper said Ironwood has rejected cash offers thought to be in the region of USD30 per share, which would value the company at around USD3.7 billion.
Ironwood is considered an attractive takeover target as its Linaclotide treatment for irritable bowel syndrome is a potential blockbuster after being approved by the US Food & Drug Administration in December 2012.
http://www.dailymail.co.uk/money/markets/article-3002951/MARKET-REPORT-Biopharma-takeover-mania-continues-grip-world-stockmarkets.html
By Sam Unsted; [email protected]; @SamUAtAlliance
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Related Shares:
Shire