Biopharmaceuticals giant Actelion Ltd. confirmed Thursday afternoon that it has held talks with potential acquisition target ZS Pharma Inc. Actelion, based in Switzerland, issued a brief statement that said it “has initiated preliminary discussions” with ZS Pharma, and that it would not give further comment. ZS Pharma issued a similar statement minutes later. “ZS Pharma regularly and routinely explores opportunities with various strategic partners and will continue to do so,” the statement read. “These discussions may or may not lead to any transaction.” Bloomberg News reported earlier Thursday that the two companies had discussed a deal that would value Texas-based ZS Pharma at $2.5 billion. ZS Pharma stock roared higher after the Bloomberg report, closing with a 28.4% gain at $74.73 that pushed the company’s market cap closer to $2 billion.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News