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DEVELOPING

Perrigo stock spikes on report of buyer being sought

Updated: Tuesday, July 15, 2014
Perrigo stock spikes on report of buyer being sought story image

ALLEGAN, Mich. (NEWSCHANNEL 3) - Reports from Tuesday morning say shares of Perrigo were up 9 percent Monday as investors reacted to rumors the company may be looking for a buyer.

The information was published in the Israeli business publication Globes.

It says Perrigo hired an investment bank to "consider its sale through a merger with a major pharmaceutical firm."

Perrigo re-incorporated in Ireland last year, but its top executives and primary production facilities are still in Allgean County, and it employs some 4,000 people in West Michigan.

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