A possible bidding war is looming for Shire as Botox maker Allergan mulls an offer

 
Courtney Goldsmith
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Shire focuses on rare disease treatments (Source: Getty)

A bidding war is on the cards for Ireland-based pharmaceuticals giant Shire as Botox maker Allergan wades into the debate, saying it is mulling its own bid for the firm.

"Following recent press speculation, Allergan confirms that it is in the early stages of considering a possible offer for Shire plc. No offer has been made," the company said in a statement.

In accordance with UK takeover rules, Allergan is now required to make a firm offer for Shire or back down by 17 May.

Shire said earlier today it had rejected Takeda's £43bn offer (along with two other bids from Takeda), but it confirmed the two were still in ongoing talks over whether a "further, more attractive" deal could be hammered out.

Read more: Advisory group recommends vote against Shire boss Flemming Ornskov's pay

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