ARIA Stock – Ariad Shares Pop on Potential Buyout Rumors

by Christopher Freeburn | January 23, 2014 9:34 am

ARIA Stock – Ariad Shares Pop on Potential Buyout Rumors

A report that Ariad Pharmaceuticals Inc. (ARIA[1]) has been approached by potential buyers[2] sent ARIA stock up more than 8% in Thursday pre-market trading.

Ariad ARIA Stock   Ariad Shares Pop on Potential Buyout Rumors[3]According to the Daily Mail, Ariad has received “friendly approaches” from a minimum of three major pharmaceutical makers. Interested parties are said to include Eli Lilly (LLY[4]), GlaxoSmith Kline (GSK[5]) and Shire (SHPG[6]).

ARIA stock had traded over $20 a share in September, but ARIA stock plunged in October after the U.S. Food and Drug Administration halted a trial[7] of its anti-cancer treatment, Iclusig, after some patients developed blood clots.

The buyers are reportedly willing to pay as much as $20 a share for ARIA stock. On Wednesday, ARIA stock closed at $6.71 a share.

In December, Ariad announced that the FDA would allow Inclusig to return to the market under new marketing restrictions, sending ARIA stock somewhat higher.

Endnotes:
  1. ARIA: http://studio-5.financialcontent.com/investplace/quote?Symbol=ARIA
  2. has been approached by potential buyers: http://www.dailymail.co.uk/money/markets/article-2544120/MARKET-REPORT-Three-pharma-groups-size-Ariad.html
  3. [Image]: http://investorplace.com/wp-content/uploads/2010/12/Ariad.jpg
  4. LLY: http://studio-5.financialcontent.com/investplace/quote?Symbol=LLY
  5. GSK: http://studio-5.financialcontent.com/investplace/quote?Symbol=GSK
  6. SHPG: http://studio-5.financialcontent.com/investplace/quote?Symbol=SHPG
  7. after the U.S. Food and Drug Administration halted a trial: http://investorplace.com/2013/10/ariad-shares-collapse-company-ends-leukemia-drug-testing/#.UuEnTHn0CX0

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