Radius Health suitor Shire to launch USD 80 per share offer next week; rival bidder offers USD 85 per share
Shire [NASDAQ:SHPG], an Anglo-Irish pharmaceuticals company, is working on a takeover bid for Waltham, Massachusetts-based rival Radius Health [NASDAQ:RDUS] and could table a formal offer at about USD 80 (EUR 71.7) per share next week, The Daily Telegraph reported. The newspaper’s market report section cited unspecified sources for the information.
The article also noted speculation that Radius Health has already received an offer from a rival bidder at USD 85 per share. It is believed that the US-based pharmaceuticals groups Amgen [NASDAQ:AMGN], Eli Lilly [NYSE:LLY] and Pfizer [NYSE:PFE] are also interested in Radius Health, according to the report.
Morgan Stanley is believed to be one of the investment banks handling the deal, the report said, without specifying which party Morgan Stanley is advising.
Morgan Stanley was among the advisers to Shire on its takeover bid for Baxalta late last year, according to a report from this news service on 1 December 2015.
Traders cited by The Guardian’s Market Forces blog mentioned talk that Shire was thinking about offering USD 70 per share for Radius Health, which would value the target at about USD 3bn.
Radius Health’s share price closed USD 0.38 down at USD 51.59 in New York on Thursday, 11 August, giving the company a market capitalisation of USD 2.22bn.
The Daily Telegraph, The Guardian, previously reported intelligence