Pharmaceutical group, Shire Plc (SHP.L) continued its climb this afternoon after reports earlier in the week of a potential bid on the company. It was reported by reuters that Shire has hired Citi as an advisor as it expects to receive approaches.
As an Irish tax based company the corporation tax rate is the lowest in the world and a growing portfolio of effective drugs makes the company a likely target, particularly after similar companies in the healthcare sector have been getting snapped up as buyers look to achieve lower tax bills to keep up with the competition.
The share price was up nearly 4% at a record high tuesday and it has continued its rise today, particularly strong this afternoon.
Pharmaceutical group, Shire Plc (SHP.L) continued its climb this afternoon after reports earlier in the week of a potential bid on the company. It was reported by reuters that Shire has hired Citi as an advisor as it expects to receive approaches.
As an Irish tax based company the corporation tax rate is the lowest in the world and a growing portfolio of effective drugs makes the company a likely target, particularly after similar companies in the healthcare sector have been getting snapped up as buyers look to achieve lower tax bills to keep up with the competition.
The share price was up nearly 4% at a record high tuesday and it has continued its rise today, particularly strong this afternoon.
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