A rumor on Monday stated Perrigo PRGO hired an investment bank to explore the potential sale of its business.
A Perrigo spokesperson declined to comment on the rumor.
When reaching out to sell-side analysts who cover Perrigo, Benzinga received comments that displayed high confidence in the likelihood of the deal. This could be attributed to the recent pressure the pharmaceutical maker has been receiving from its shareholders for underperformance in the near term.
Shares of Perrigo closed Tuesday at $153.44, down 3.4 percent.
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