- Horizon Therapeutics Plc HZNP confirms that it is engaged preliminary talks With amgen inc AMGN, Global Janssen serviceand Sanofi SA SNY on possible takeover bids for the company.
- According to a statement, there is no certainty that an offer will be made for the company. Under Irish law, any potential acquirer has until 5:00 pm New York time on January 10th to either make a bid or elect not to make a bid.
- Also read: Horizon Therapeutics doesn’t have a significant advantage, says analyst initiating coverage.
- The Horizon confirmation comes after the WSJ reported that the company arouses takeover interest from large pharmaceutical companies.
- A deal for Horizon would be great. The company had a market value of nearly $18 billion at Tuesday’s close and could fetch well over $20 billion at a typical takeover premium.
- Earlier this month, Horizon increased its net sales for full year 2022 Forecast at $3.59 billion to $3.61 billioncompared to the previous guidance of $3.53 billion to $3.60 billion.
- Price promotion: HZNP shares are up 31.5% to $103.60 during the premarket session last check Wednesday.
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