Shire secures USD 5bn bank credit facility for NPS takeover bid; initial approach already rejected
Shire (LON: SHP), the Ireland-headquartered, pharmaceuticals group, has secured a bank credit facility of USD 5bn for a potential takeover of Bedminster, New Jersey-based NPS Pharmaceuticals (NASDAQ: NPSP), The Times reported, without citing sources.
The article said Citigroup is leading the banks offering the facility.
Shire is believed to be prepared to pay USD 40-45 per share, or up to USD 4.8bn, the report said, without attributing a source for the information.
Inside sources cited in the piece said Shire has already contacted NPS with an initial approach, although this was rejected. Colin Broom, a former hospital doctor trained in London who has links to both Shire and NPS, is now negotiating between the two, the article said.
Goldman Sachs is advising NPS, the item reported.
Source The Times