News Column

PRESS: Shire Hires Citi To Prepare For Takeover Offers - Reuters

June 17, 2014

Jon Darby

LONDON (Alliance News) - Drug maker Shire PLC has hired Citigroup Inc as an advisor in anticipation of receiving takeover offers following a raft of deals in the healthcare sector, Reuters reported late on Monday, citing sources familiar with the matter.

"Something could happen this year," said one of the sources on condition of anonymity, Reuters reported.

Any deal would come amid heightened merger and acquisition activity that has been largely driven by US companies looking for overseas takeover targets with the aim of utilising lower tax rates abroad.

Shire shares are up 2.7% at 3,632.80 pence.

A spokesperson for Shire was not immediately available for comment.

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Source: Alliance News

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