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There’s a $US60 billion bidding war brewing for Shire, the maker of ADHD medications like Adderall.
Shire has already rejected an offer of that amount from Japan’s Takeda. Shire said in a statement that Takeda’s $US60 billion bid “continues to significantly undervalue the company and Shire’s growth prospects and pipeline.”
Allergan then confirmed it was “in the early stages of considering a possible offer” for Shire. That sent Allergan’s stock price plummeting, falling more than 8%. CNBC then reported Thursday afternoon that Allergan would not make a bid for Shire, with Allergan’s share price rebounding. What a wild ride.
Elsewhere in healthcare news, a leaked video shows Theranos employees playing the video game they created where you shoot at the reporter who exposed the startup’s problems.
In markets news:
- The stock market’s ‘secret medication for longevity’ has vanished – and that leaves it highly vulnerable to a meltdown
- Wall Street agrees that earnings season will send stocks soaring – here are 5 trades to help you make the most of it
- Tesla’s Model 3 struggles have traders paying record prices to protect against a stock drop
- Wall Street to Tesla: ‘What happened?’
- ‘Patience is wearing thin’: Wall Street is souring on IBM’s turnaround story
- One of the banks behind Dropbox’s IPO is already warning investors to be careful
- MoviePass’ parent company is getting crushed after selling shares at massive discount
Lastly, a trader named Morgan Stanley left Morgan Stanley and now someone is selling his business cards for $US1 million.
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