Botox maker Allergan is usually inside “early stages” of talks to acquire drugmaker Shire, the company confirmed Thursday following media reports.
The discussions put Allergan in direct competition with Japan’s Takeda Pharmaceutical for the London-listed drugmaker.
Shire rebuffed Takeda on Thursday, turning down an offer worth around $61 billion. Shire said the offer of $66.15 per share in cash and also also also stock “significantly undervalued the company, its growth prospects and also also also pipeline.”
Allergan said in a statement in which the idea has not submitted an offer and also also also in which there is usually no certainty of a bid. The company is usually required by law to announce its intention to make an offer for Shire by May 17.
With additional reporting coming from Reuters.