Friday's rumor seems closer to Monday's sure thing as Shire is said to have locked in a $5 B line of credit that it can use in a bid to gain control of NPS Pharmaceuticals. As previously posted on Friday, Shire is not only interested in building its rare disease portfolio with an NPS acquisition, but the extra size brought on by the deal could also serve to insulate it more from unwanted takeovers -- from say Allergan.
Regardless, the rumor action has driven NPS share price up 24% on Friday and another 18% today. So if you are an NPS shareholder (or were until today), you are likely very happy. Cha-Ching! See Fierce Biotech.
Posted by Bruce Lehr June 2nd 2014.