Insys Therapeutics Inc INSY soared over 8 percent Wednesday following a rumor that Mallinckrodt PLC MNK was in talks to acquire the company.
A source speaking to Benzinga indicated that the purchase price may be near the $65 level.
Mallinckrodt responded that as “a matter of policy” the company does “not comment on market rumors or speculation.”
INSYS Therapeutics did not respond immediately to a request for comment.
Insys Therapeutics recently traded at $56.15, up 6 percent.
Mallinckrodt also moved higher Wednesday and recently traded at $125.01, up 0.69 percent.
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