Shire plc Hires Adviser on Takeover Threat

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Shire has retained investment bank Lazard as a financial adviser to help it handle a possible takeover bid, according to reports. An article on the Sunday Times website yesterday suggested that a bid for Shire may be in the offing in the wake of earlier deals involving fellow Irish pharma companies Elan and Warner Chilcott, which have both been snapped up in the last few months. Perrigo paid $8.6bn to secure Elan, just ahead of the $8.5bn offered by Actavis for Warner Chilcott in May, with both companies suggesting that Ireland's company-friendly tax environment was a factor in the transactions.

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