Shire Stock Rising on Takeover Talks
Shire is a biotech company that is focused on serving people with rare diseases and other specialized conditions.

Shares of Shire PLC (SHPG) were gaining by more than 3% to $168.97 on Wednesday, following talk of a takeover of the specialty drug maker.

Some of the largest drug firms in the U.S. and across Europe are said to have hired advisers regarding a move at the Dublin-based company, the Evening Standard reports. Shire is also said to have hired its own defense advisers to ward off low bids.

Shire is a biotech company that is focused on serving people with rare diseases and other specialized conditions.

More of What's Trending on TheStreet:

More from Stocks

General Electric Slips as Cowen Suggests Culp Needs to Take Action

General Electric Slips as Cowen Suggests Culp Needs to Take Action

Investors Face Growing Opportunities and Challenges in Cannabis

Investors Face Growing Opportunities and Challenges in Cannabis

J.C. Penney Shares Have Plunged 64% Since Quant Ratings Downgrade

J.C. Penney Shares Have Plunged 64% Since Quant Ratings Downgrade

The 'Fear of Missing Out' Is Missing

The 'Fear of Missing Out' Is Missing

Bye, Bye, Bye Sears: The Week Ahead

Bye, Bye, Bye Sears: The Week Ahead