June 17, 2014 / 7:10 AM / 3 years ago

Shares in drugmaker Shire jump on takeover bid expectations

LONDON (Reuters) - Shares in Shire jumped nearly 4 percent on bid expectations in early trade on Tuesday after Reuters reported that the drugmaker had hired investment bank Citi as a defence adviser.

Sources familiar with the matter said the London-listed company was expecting to receive takeover approaches following a wave of deals in the healthcare sector.

Potential acquirers are eyeing Shire’s tax base in Ireland - where effective corporate tax rates are among the lowest in the world - as well as its fast-growing portfolio of drugs to treat hyperactivity and rare diseases.

Reporting by Ben Hirschler; editing by Jason Neely

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below