Biogen Idec up for sale
Billionaire Carl Icahn, who already owns 1 percent of Biogen stock, is believed to be interested in buying the company.
Biogen Idec Inc., the state's largest biotech company, is on the market.
The Cambridge firm said late this afternoon that it will consider offers from suitors, after receiving multiple "expressions of interest," including one from billionaire corporate raider Carl Icahn.
Icahn, who recently disclosed he owned 1 percent stake in the Cambridge biotech company through one of his investment companies, won antitrust approval in August to take an even bigger stake in the company, raising speculation that Biogen Idec could become a likely takeover target.
Biogen Idec noted its financial outlook as a stand-alone company is healthy. But in a written statement, Biogen Idec said it wanted to check to see if "major pharmaceutical companies" might make an offer than is even more attractive than remaining independent.
After Biogen Idec said it would entertain being bought, shares in the company soared 17 percent in after-hours trading to more than $81 a share, up from $69.43 when the market closed Friday afternoon.
Possible buyers include other biotech companies, such as Genentech, or drug companies, like Pfizer Inc., which are trying to increase their biotech capabilities.
(By Todd Wallack, Globe staff)
