Shire Considering Cash Bid For NPS Pharmaceuticals?

FT Alphaville on Friday reported that Shire plc SHPG could be considering a cash bid for NPS Pharmaceuticals NPSP.

Bloomberg reported that NPS Pharmaceuticals have had no contact from Shire.

Shares of NPS Pharmaceuticals traded as high as $34.50 on Friday morning, up 25.68 percent, following the rumor.

Shire has traded lower, down as much as 1.7 percent. Shares of Shire are currently hovering at $171.69.