Mylan tipped as bidder for Hikma Pharma at GBP 35 per share
Hikma Pharmaceuticals, the Jordan-headquartered drugs group, is rumoured to be a potential takeover target for Canonsburg, Pennsylvania-based pharmaco Mylan, The Independent reported. The market report noted unattributed chatter that Mylan could make an approach worth GBP 35 (USD 53.09) per share.
Dealers cited in a Daily Mail market report suggested Amgen, the Nasdaq-listed biopharmaceutical company headquartered in Thousand Oaks, California, might be a bidder for Hikma. The dealers believe a bid would need to be worth at least GBP 40 per share to ensure success, the report said.
The family of Hikma’s Chief Executive and founder, Samih Darwazah, owns 42% of the company, the report said. It noted that Darwazah has previously stated that a sale would be out of the question until Hikma reaches a GBP 5bn market cap.
Hikma’s shares were trading at GBP 23.50 by the end of trading on 27 January, giving the London-listed company a GBP 4.65bn market capitalisation.
Independent, Daily Mail