Shares of Jazz Pharmaceuticals PLC rose today after an industry website said it would likely be the most viable deal target for Irvine-based Allergan Inc.
Dublin-based Jazz’s shares closed up 7% to a market value of $10.1 billion.
Allergan is fighting a hostile takeover bid from Canada’s Valeant Pharmaceuticals International Inc. and activist investor Bill Ackman’s Pershing Square Capital Management LP.
Website dealReporter cited three unnamed industry bankers who said Jazz would be the most likely target if Allergan seeks a defensive deal to ward off Valeant and Ackman.
Allergan shares closed up 1% to a market value of $49.6 billion. Valeant’s shares rose 2% today to a market value of $40.1 billion.