20th Apr 2018 08:34
LONDON (Alliance News) - Allergan PLC on Friday confirmed that it "does not intend to make an offer" for fellow Dublin-based drug maker Shire PLC, backing off its announcement on Thursday that it was considering one.
The botox-maker said it "reserves the right" to buy or offer to acquire Shire shares if another third-party announces a firm intention to make an offer.
On Thursday, Shire had said it rejected three takeover proposals from Takeda Pharmaceutical Co Ltd since the end of March, while Allergan had said it was in the "early stages" of considering an offer to buy Shire.
Shire share were down 3.3% at 3,843.50 pence early Friday.
Related Shares:
Shire