Allergan Reportedly Enters Fray To Buy Shire, Rivaling Takeda

Shire (SHPG) is reportedly the subject of a bidding war as it has rejected three buyout proposals from Takeda Pharmaceutical and then received new interest from Allergan (AGN), according to reports early Thursday.

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Early Thursday, Shire said its board unanimously rejected three bids from Takeda including one worth north of $61 billion. In each case, the board determined the bid "significantly undervalue" Shire's growth prospects and pipeline.

About the same time, a report emerged that

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