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What you need to know on Wall Street today
Hello. Here's what you need to know on Wall Street today.
There's a $60 billion bidding war brewing for Shire, the maker of ADHD medications like Adderall.
Shire has already rejected an offer of that amount from Japan's Takeda. Shire said in a statement that Takeda's $60 billion bid "continues to significantly undervalue the company and Shire's growth prospects and pipeline."
Allergan then confirmed it was "in the early stages of considering a possible offer" for Shire. That sent Allergan's stock price plummeting, falling more than 8%. CNBC then reported Thursday afternoon that Allergan would not make a bid for Shire, with Allergan's share price rebounding. What a wild ride.
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Elsewhere in healthcare news, a leaked video shows Theranos employees playing the video game they created where you shoot at the reporter who exposed the startup's problems.
In markets news:
- The stock market's 'secret medication for longevity' has vanished — and that leaves it highly vulnerable to a meltdown
- Wall Street agrees that earnings season will send stocks soaring — here are 5 trades to help you make the most of it
- Tesla's Model 3 struggles have traders paying record prices to protect against a stock drop
- Wall Street to Tesla: 'What happened?'
- MoviePass' parent company is getting crushed after selling shares at massive discount
Lastly, a
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