Alexion Spikes As the Company Hires Goldman Sachs (ALXN)

Shares of Alexion ALXN spiked higher when Bloomberg reported that the pharmaceutical company will be working with Goldman Sachs GS on a potential takeover by Roche RHHBY.

Shares of Alexion jumped as high as $120.48, or 10.2 percent on the news. More than 2.5 million shares have already been traded, compared to the average of 2.03 million.

A previous offer from Roche was rejected, but Alexion will be working with Goldman Sachs in the case that Roche raises their offer to a level the pharmaceutical company finds appealing.

Bloomberg reports that Roche is interested in both the company’s blood medication and pipeline.

Analysts will likely review the company in the near future.