Intercept Pharmaceuticals hires JPMorgan to examine bid approaches
Intercept Pharmaceuticals (Nasdaq:ICPT), the New York-based drug developer, has engaged JPMorgan to analyse a number of takeover approaches, a market source cited in a Daily Mail report said. The market report named Ireland-headquartered Shire (LON:SHP) and UK-based GlaxoSmithKline (LON:GSK) as prospective bidders for Intercept, as well as suggesting unspecified American and Swiss companies will bid.
Shire refused to comment, the report said, noting that although Shire is attempting to acquire Illinois-based Baxalta (NYSE:BXLT) with a rumoured soon-to-be-increased GBP 19.8bn (USD 30bn) offer, Chief Executive Flemming Ornskov two months ago said Shire is also considering smaller buys.