ARTICLE | Company News
Actelion rises on reports of Shire buyout offer
June 9, 2015 2:10 AM UTC
Actelion Ltd. (SIX:ATLN) gained CHF7.70 to an all-time high closing price of CHF139.60 on Monday after weekend media reports said the company had rejected a buyout offer from Shire plc (LSE:SHP; NASDAQ:SHPG) of CHF160 per share. Based on Actelion's report of 114.1 million shares outstanding at March 31, the offer would have been worth CHF18.3 billion ($19.5 billion). Shire and Actelion declined to comment.
In February, Shire CEO Flemming Ornskov said the company still has "significant firepower to do additional M&A" in the wake of its $5.2 billion acquisition of NPS Pharmaceuticals Inc. (NASDAQ:NPSP) (see BioCentury Extra, Feb. 12). ...