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Shares in drugmaker Shire jump on takeover bid expectations
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

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