Perrigo (PRGO) ticked higher by 1.7% amid some renewed takeover speculation.
Germany-based Stada Arzneimittel AG and its private equity owner CapVest may have renewed interested in an acquisition of Perrigo (PRGO), according to traders, who cited a Betaville "uncooked" alert that was circulating on Wednesday.
The speculation comes after former CEO Patrick Lockwood-Taylor resigned as president, CEO, and board member on Monday.
There's even some speculation that Stada and CapVest may be considering a "bear hug" or starting a possible takeover offer after discussions faltered earlier this year. Advisers from JPMorgan and Citi are speculated to be working on a possible transaction.
The latest news comes after Betaville in April said that generics drug maker Perrigo (PRGO) may be a takeover target and that Stada may be interested. Perrigo has a market cap of $1.6 billion and short interest of 10%.
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