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.

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