Perhaps I spoke (or wrote) to soon about Shire's next "transformational" deal taking a while to happen - see the link: http://betaville123.blogspot.co.uk/2015/03/rare-alert-shires-next-deal-likely-to.html.
Top sources (and I mean top) tell me FTSE 100-listed Shire has set it sights on BioMarin Pharmaceutical, a US-listed company that specialises in making therapies for people with extremely rare genetic diseases.
I have been told by well informed types that Shire, led by Flemming Ornskov, recently approached BioMarin about a deal although it's not clear whether things have progressed further.
Bankers from Morgan Stanley and Lazard are advising Shire on this potential transaction, with the former said to be leading the financing for the deal, said my sources.
An acquisition of BioMarin would be "transformational" for Shire as the company currently has a market capitalisation of about $18 billion. And Shire is likely to have pay a significant premium to BioMarin's current price given the current M&A frenzy in the pharmaceutical sector.
BioMarin is thought to have already drafted in its own financial advisers, thought to be a boutique firm such as Centreview Partners (who seem to be advising on everything nowadays) or Evercore, to defend the company from a larger predator, according to my sources.
This is because Shire may not be the only suitor interested in BioMarin. Indeed, a couple of years ago Swiss giant Roche, which last year bought InterMune for $7.4 billion, took a good look at BioMarin, according to past reports.
I'm told by sources that the Swiss pharmaceutical giant may revisit its interest in California-based BioMarin on hearing Shire is interested in the business.
Shire and BioMarin both declined to comment on the "speculation".
Although this story has been tested through some formal journalistic channels, this information is RARE (well, more like medium RARE). For readers that don't recall what RARE is, here is the definition:
Market gossip that hasn't been tested through formal journalistic channels (public relations executives, bankers etc). The rumour might be total codswallop but then again there may be something in it, so it's worth airing on Betaville.