LONDON (AFX) - AstraZeneca, the UK's second-biggest drugmaker, is eyeing peer Shire Pharmaceuticals as a takeover candidate in its search for UK aquisitions, but has not yet made a formal approach, weekly magazine The Business reported.
An offer for Shire, which has a market value of around 4 bln stg, could spark a bidding war among other drugmakers, the magazine said, adding that AstraZeneca could easily finance a bid of around 5 bln stg.
An AstraZeneca spokesperson would not comment on whether an offer would be made for Shire. newsdesk@afxnews.com abr COPYRIGHT Copyright AFX News Limited 2006. All rights reserved. The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News. AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited