Uncertainty over Perrigo takeover rumors

16 June 2016

It has been a turbulent few days for shares in Ireland-headquartered Perrigo (NYSE: PRGO) as word that it might be taken over by a UK-based company prompted rumors and counter-rumors.

A source from finance website StreetInsider claimed on Tuesday that the consumer and generic drug firm was close to being bought for $20 million.

This prompted Perrigo’s share price to rocket that day by 9% as investors jumped on the speculation, about which the company declined to comment. On Wednesday the share price promptly dropped by 9% as analysts considered the likelihood of the takeover going ahead.

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