Rumor: InterMune Hires Investment Bank To Evaluate Options
InterMune (NASDAQ: ITMN) spiked Monday on a rumor it was working with an investment bank to evaluate options that could lead to the company's sale.
Betaville blog, edited by freelance writer Ben Harrington, said InterMune has begun working with bankers from Evercore Partners to study alternatives. The blog cited unnamed sources.
In April, Harrington said Swiss company Actelion was interested in buying InterMune and had lined up financing. In July, Harrington said GlaxoSmithKline was mulling an offer for InterMune.
The biotech company missed second-quarter estimates last week with a wider-than-expected loss and said expenses in the second half would be higher than it previously forecast.
Intermune closed at $44.71, up 3.8 percent.
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