Tesaro Is A Top Rumor Mill Stock Right Now; Here Is A Timeline Of The Chatter - Gilead Sciences (NASDAQ:GILD), Sanofi (NASDAQ:SNY)

TESARO Inc TSRO takeover rumors have been swirling around since September 2016, and Benzinga continues to hear M&A chatter Tuesday.

The biopharmaceutical company has been a huge acquisition target, as biotech companies look to gain access to Zejula, an approved inhibitor to treat ovarian cancer for women. According to StreetInsider, a deal for Tesaro could be valued at around $185/share.

Timeline Of Events

Below is a timeline of the rumors covering exclusively on the Benzinga Pro news wire:

Sept. 13, 2016: Gilead Sciences, Inc. GILD reportedly interested in Tesaro by a Gabelli research report. It was later reported in November that Gilead was scouting a range of attractive candidates.
Jan. 26, 2017: Sanofi SA (ADR) SNY was reported to have interest in acquiring Tesaro. Sanofi has been looking to add a PARP product and sees Tesaro as a good target.
April 5: Gilead continues to discuss Tesaro as a takeover target.
May 31: Dow Jones reported that management is exploring sales, but “interest from bidders has been lukewarm” and no deal is a possibility.
June 12: Tesaro shares jump over $6 as traders are hearing more takeover rumors between Gilead and Sanofi. Seeking Alpha reported, “Takeover rumors have been flying about ever since the FDA approved TESARO's PARP inhibitor Zejula in March. Interest is not one-sided. The company has been reaching out to potential suitors about a deal, but supposedly interest has been muted.”

Overall, it is clear the two biggest suitors for a potential takeover are Gilead and Sanofi, but both companies are going to need to pay up if they want to see a deal in the foreseeable future. Tesar was trading up 5.14 percent at $150.00 at time of publication.

If you want to stay up-to-date on the latest Tesaro takeover chatter, check out the Benzinga Pro News Wire.

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