Global Blood Said to Mull Sale After Receiving Takeover InterestBy and
Sickle cell treatment maker said speaking with advisers
California-based firm has market value of about $1.2 billion
Global Blood Therapeutics Inc. is exploring a sale after receiving takeover interest from other drugmakers interested in its treatments for blood disorders, according to people familiar with the matter.
Global Blood is working with financial advisers to review its options, the people said, asking not to be identified because the deliberations are private. No final decision has been made and the San Francisco-based company may still decide against a deal, the people said. The company had a market value of about $1.2 billion at the close of trading on Tuesday.
Global Blood Chief Executive Officer Ted Love declined to comment. Reuters reported the takeover interest earlier and said Novo Nordisk A/S had made an approach. A spokeswoman for Novo declined to comment.
The company develops treatments for patients with severe blood disorders, including sickle cell disease, according to its website. Its shares have almost doubled in value so far this year.
Global Blood rose 17 percent in New York trading at 11:17 a.m. after surging as much as 32 percent, the biggest intraday gain since August 2015.
— With assistance by Doni Bloomfield, and James Paton
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