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Irish-Based Shire Braces For Takeover Bids


6/17/2014 8:10:48 AM

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(Reuters) - London-listed drugmaker Shire has hired investment bank Citi as an adviser, expecting to receive takeover approaches following a wave of deals in the healthcare sector, sources familiar with the matter told Reuters.

Much of the dealmaking has been fueled by U.S. companies seeking lower tax rates abroad. With its tax base in Ireland - where effective corporate tax rates are among the lowest in the world - and a mid-sized market value of around $35 billion, Shire could be a prime target, analysts and bankers believe.

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