The biotech giant Biogen's stock is surging on reports of a potential takeover

The company's name is displayed on a billboard near the headquarters of Biogen Idec Inc. in Cambridge, Massachusetts June 18, 2008. REUTERS/Brian Snyder

The biotech giant Biogen’s stock is surging on reports that the drug companies Merck and Allergan are interested in doing a deal.

The Wall Street Journal on Tuesday reported that both pharmaceuticals have expressed interest in informal discussions which may not result in a deal.

A takeover of Biogen would be the biggest of a biotech company since 2008.

More to come…

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