Shire said to have submitted USD 3.6bn formal offer for Radius Health - market report
Shire [NASDAQ:SHPG], an Anglo-Irish pharmaceuticals company, was rumoured to have submitted a formal offer for rival Radius Health [NASDAQ:RDUS], the Financial Times reported. The newspaper’s market report section said the offer values the Waltham, Massachusetts-based osteoporosis drug company at about USD 3.6bn (EUR 3.17bn), but did not cite a source for the speculation.
The offer represents a premium of close to 50% on Radius’ undisturbed share price, the item said.
The report noted persistent talk that Radius could attract offers from rivals Amgen [NASDAQ:AMGN], Pfizer [NYSE:PFE] or Roche [VTX: ROG].
Radius Health’s share price closed USD 1.09 up at USD 65.40 in New York yesterday, 18 August, giving the company a market capitalisation of USD 2.43bn.
Financial Times
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cent higher, up 9.81 points to 6,868.96.
Shire, unchanged at £50.30, was once again being linked with Radius Health, US-listed osteoporosis drugmaker.
According to traders, Shire was rumoured to have submitted a formal offer for Radius that valued the group at around $3.6bn, a near 50 per cent premium to its undisturbed price. Persistent speculation has also linked Roche, Pfizer and Amgen with Radius, which is due to release the first results from human trials of its osteoporosis patch next month...."