Shire shares rocket up after Takeda says it's pondering a takeover bid
Takeda said early Wednesday that it is considering making an offer to buy Shire $SHPG, and it has a clearly thought out a set of reasons why.
As of now, Takeda said in a statement that it has made no formal offer for Shire, but is exploring the possibility. That’s exactly in line with takeover rules to satisfy UK regulators. And Shire’s shares immediately blasted upward, jumping 17%. The company started the day with a market cap of $38 billion.
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