Shares of Alexion Pharmaceuticals (ALXN - Get Report) shot up on Thursday after Mizuho analyst Salim Syed published a note saying that a report that Amgen (AMGN - Get Report) is close to bidding for the company is feasible.
Amgen is "in the final stretch to buy Alexion" for $200 a share, a report from Spain's Intereconomia said, citing sources familiar with the negotiations.
Alexion, the Boston biopharma focused on rare diseases, and Amgen, the Thousand Oaks, Calif., biotech giant, declined comment.
Syed says the deal would be highly accretive and he has seen signs of Amgen being "a bit cagey around the M&A topic -- more than normal."
The $200 reported purchase price would represent an upside of 73% from the stock's Wednesday closing price.
Alexion closed up 7.5% at $123.49.
Amgen is a key holding in Jim Cramer's Action Alerts PLUS charitable trust.
Save 57% With Our Labor Day Sale. Join Jim Cramer's Action Alerts PLUS investment club to become a smarter investor! Click here to sign up!