Bloomberg has reported that Tesaro is seeking a sale, which was enough for its shares to be up over 30% as trading closed last Friday. According to the report, some potential acquirers have already stepped up, and the company’s management has hired an investment bank to work on the transaction.
Bloomberg’s report mentions Gilead Science as the most likely buyer of the Waltham, Massachusetts-based biotech. Gilead surely has the financial resources to acquire Tesaro, which on Friday reached a capitalization of approximately $2bn. Moreover, the California-based group’s management has many times stated it is seeking a new takeover after acquiring Kite, for which it paid $11.9bn.