On sec­ond thought, Al­ler­gan does­n't want to con­sid­er a bid for Shire, leav­ing Take­da in sole pur­suit of $62.5B deal

Hit with swift ret­ri­bu­tion af­ter sig­nal­ing an in­terest this morn­ing in jump­ing in­to a bid­ding war with Take­da and mount­ing a bid for Shire $SH­PG, Al­ler­gan is out.

The biotech put out a state­ment Thurs­day af­ter­noon in an abrupt about-face — af­ter watch­ing its shares drop 7% — say­ing that it “does not in­tend to make an of­fer for Shire.” The com­pa­ny added:

Al­ler­gan $AGN con­tin­ues its on­go­ing process of eval­u­at­ing a full range of po­ten­tial strate­gic ac­tions that will cre­ate val­ue for share­hold­ers, such as di­vesti­tures, com­bi­na­tions and ac­qui­si­tions.

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