A few key rea­sons why Bio­gen has now be­come a buzzed about takeover tar­get

Strug­gling with rev­enue and keep­ing in­vestors’ in­ter­est in its pipeline as its CEO heads for the ex­its, Bio­gen has drawn some in­ter­est from two big play­ers about a pos­si­ble takeover. The Wall Street Jour­nal re­port­ed Tues­day af­ter­noon that Al­ler­gan and Mer­ck have both made over­tures to Bio­gen to sound out their in­ter­est in a deal.

Bio­gen’s shares $BI­IB raced up 9%, adding bil­lions in mar­ket cap as the in­vest­ment com­mu­ni­ty looked to jump in­to a pos­si­ble deal in the mak­ing. But by ear­ly Tues­day evening CN­BC was fol­low­ing up with a re­port that Al­ler­gan, which may have had a hard time mak­ing a buy­out work un­der cur­rent tax rules, was un­like­ly to fol­low up.

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