From the report (emphasis mine):
Biotechnology giant Biogen Inc. has drawn takeover interest from drug companies including Merck & Co. and Allergan PLC, raising the possibility of another huge deal in the health-care industry.
Merck and Allergan have each sounded out Biogen on the possibility of a takeover, people familiar with the matter said. The communications were informal and preliminary, and they may not result in a deal—in part because Biogen may not be interested, they added.
Biogen had a market value of $68 billion on Tuesday afternoon. It isn’t clear whether other large drug companies also are contemplating a purchase of the company, which is in the process of searching for a new chief executive.
Who are these companies kidding? Of course Biogen is interested in a takeover deal. The biotech space is always a red hot with M&A activity, and BIIB has a duty to its shareholders to pursue a deal if the price is right.
Biogen closed up $28.28 (+9.37%) on the day at $330.11. Both Merck and Allergan shares fell on the news, down 0.56% and 1.51%, respectively. Biogen’s huge move was enough to spike the IBB by nearly 2.5%.