Shionogi Falls on Report of $1 Billion Offer to Buy Torii Pharma
Shares of Japanese drugmaker Shionogi & Co. dropped the most in almost a month after the Nikkei newspaper reported the company will buy Torii Pharmaceutical Co. for about ¥150 billion ($1 billion).
The acquisition will include buying a stake from Japan Tobacco Inc., which owns about 53% of Torii, through a tender offer and other means, the newspaper said Wednesday, without citing where it obtained the information.
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