Shire Rockets Nearly 20% After Confirming Takeda Could Make An Offer

Shire (SHPG) rocketed by double digits in premarket trading after confirming Japan's Takeda Pharmaceutical is considering making an offer to acquire it.

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Before the open on the stock market today, Shire stock flew 18.2%, near 152.40. The shares have traded below their 50-day moving average since January.

Takeda has until April 25 to either announce a firm intention to make an offer or that it doesn't plan to put forth a bid, Shire said in a press release.

More to follow.

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