Report: With M&A Cash Likely On Its Way to U.S., Shire's Drawing Pharma Suitors
Will Shire investors get a Christmas present in the form of a buyout? As Republicans put the final touches on their new tax plan, so too are large pharma companies circling Shire for a potential acquisition, media reports say, according to a report in FiercePharma.
According to The Telegraph, which cites market rumors, rare disease-focused Shire could get an offer of £50 per share or more.
But it's not just big pharmas in the U.S.—which could soon have plenty of cash for buyouts, thanks to an impending tax cut on repatriated profits—that are taking a look. Drugmakers in Europe are also interested in the specialty drugmaker, according to the publication, and its shares have climbed in recent days as the rumors have made the rounds. The share uptick comes despite a late-stage trial failure in Hunter syndrome; results from that study were released Tuesday.
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