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Shire surges on buy-out interest
Shares of Shire rocketed after Japanese rival Takeda Pharmaceutical said it was considering a buy-out of the company.
Takeda said the approach was at a "preliminary and exploratory stage" and that Shire's board had not been approached, adding that a bid was not certain.
Under Takeover Panel rules, the Japanese outfit now had until 1700 BST on 25 April to clarify its intentions.
Market commentary initially highlighted how such a transaction would make a good fit with the Asian company's stated aim of expanding into more niche treatments, such as oncology, gastrointestinal disorders, and neuroscience.
In 2017, Takeda bought US biotech firm Ariad Pharmaceuticals for $4.7bn with management having expressed in further expanding its footprint in the States.
As of 1206 BST, stock in Lexington, Massachussetts-based Shire was higher by 15.34% to 3,590p, having hit an intra-day high of 3,879.5p, taking its market capitalisation to £32.248bn.
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