Biogen Idec (BIIB) Up On Renewed Takeover Speculation
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Shares of Biogen Idec Inc. (Nasdaq: BIIB) are seeing interest today on renewed takeover speculation. Shares are up 1.8 percent to $58.23 on solid volume and option activity.
Biogen Idec has been unsuccessful in M&A recently. In 2007, Biogen unsuccessfully attempted to sell itself. In 2009, the company unsuccessfully tried to takeover Facet Biotech (Nasdaq: FACT).
Investors are hoping the recent spate of bad news in M&A for Biogen will reverse. With activist investor Carl Icahn involved with the stock, investors may not have to be hoping to long.
Biogen Idec has been unsuccessful in M&A recently. In 2007, Biogen unsuccessfully attempted to sell itself. In 2009, the company unsuccessfully tried to takeover Facet Biotech (Nasdaq: FACT).
Investors are hoping the recent spate of bad news in M&A for Biogen will reverse. With activist investor Carl Icahn involved with the stock, investors may not have to be hoping to long.
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