Traders reckon the pharmaceutical company is lining up a multi-billion bid for Cubist Pharmaceuticals, a US group that sells an antibiotic called Cubicin, used to treat complex skin infections and the "superbug", MRSA.
The gossip doing the rounds at the moment is that Shire approached Cubist around a month ago with a $44.5-a-share proposal and the pair have been in talks about a deal ever since. Morgan Stanley, which happens to be one of Shire's corporate brokers, is said to be advising Cubist on takeover offers.
