Exclusive: Shire hires Citi as braces for takeover bids – sources

Visitors are reflected on a Citibank booth during the Jakarta FairBy Sophie Sassard and Anjuli Davies LONDON (Reuters) – London-listed drugmaker Shire has hired investment bank Citi as an adviser, expecting to receive takeover approaches following a wave of deals in the healthcare sector, sources familiar with the matter told Reuters. Much of the dealmaking has been fueled by U.S. companies seeking lower tax rates abroad. With its tax base in Ireland – where effective corporate tax rates are among the lowest in the world – and a mid-sized market value of around $ 35 billion, Shire could be a prime target, analysts and bankers believe. Shire, which specializes in treatments for attention deficit hyperactivity disorder (ADHD) and a range of rare diseases, was not immediately available to comment.

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