Tesaro studying its options after takeover approaches - report
08 FEB 2017
Tesaro (NASDAQ:TSRO), an oncology-focused, commercial-stage biopharmaceutical company headquartered in Waltham, Massachusetts, is in talks with banks after receiving approaches from several drug companies, according to a newswire report.
Reuters, citing unidentified individuals, said Tesaro is discussing its options with the banks, including Citi. They added Tesaro has not decided on a sale and noted there was a significant difference in valuation expectation between the company and potential buyers.
Tesaro shares late on Wednesday morning were up almost 13% at USD 183.70 apiece, corresponding to a market cap of USD 9.46bn.
StreetInsider reported last month, citing a source, that French group Sanofi (NYSE: SNY) was considering making an offer for Tesaro. Morgan Stanley was advising on the potential bid, it said.
Link to original source (Reuters)
Link to original source (StreetInsider)