Speculation over Biogen's future began Friday (12 oktober 2007) when Biogen, the maker of multiple-sclerosis drugs said it was evaluating a possible sale and had appointed bankers to assess interest. Among those who did is activist shareholder Carl Icahn, who made an offer at a potential price of at least $23 billion, The Wall Street Journal reported.
As analysts weigh possible suitors and valuations, investors swooped on the stock. Biogen closed at $82.51, up almost 19%. That values the company at about $23.7 billion.
