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Medicines Co Up For Sale? Bloomberg, Reuters Info Comes Day After Benzinga Report; Companies Decline Comment

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Shares of The Medicines Company (NASDAQ: MDCO) continued higher on Wednesday, by as much as double-digit percentage points in early trading.

The stock initially surged higher late Tuesday afternoon.

Following a brief parabolic move, Benzinga reported a source said Mallinckrodt PLC (NYSE: MNK) could be interested in acquiring the company.

Spokespeople for The Medicines Co. and Mallinckrodt declined to comment on the report.

Earlier in January, Jefferies said in a note that the company makes sense as a takeover target because of expectations for favorable ALN-PCSsc and carbavance data in the second half of 2016.

Bloomberg: Medicines Co 'Is Said To Explore A Sale'

Bloomberg reported on Wednesday that Medicines Company is exploring a sale of itself.

Bloomberg, citing "people familiar with the matter," reported that Medicines Company has reached out to potential acquirers, but no final decision has yet to be made and the company could choose not to pursue a sale.

Reuters: Medicines Co. Talks Related To Specific Units

This section has been updated on Thursday at 12:17pm ET.

According to Reuters, the company has been in talks with potential buyers related to three specific business units: Infectious disease care, surgery, perioperative care units. These bidders are reportedly focused on asset purchases.

Posted-In: Biotech Long Ideas News Health Care Rumors M&A Movers Trading Ideas

 

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