February 27, 2020 / 10:52 PM / a month ago

Gilead Sciences makes takeover approach to Forty Seven: Bloomberg News

FILE PHOTO: A Gilead Sciences, Inc. office is shown in Foster City, California, U.S. May 1, 2018. REUTERS/Stephen Lam/File Photo

(Reuters) - Drugmaker Gilead Sciences Inc (GILD.O) has approached cancer therapy company Forty Seven Inc (FTSV.O) with a takeover offer, Bloomberg News reported on Thursday, citing people familiar with the matter.

Gilead and Forty Seven are discussing a number of options, including a partnership, according to the report. (bloom.bg/3cdiZkY)

Forty Seven has received interest from other potential suitors as well, though no deal has been finalized, Bloomberg News reported.

Shares of Forty Seven rose 23.4% to $60.10 after market, while Gilead gained 1.6%.

Both the companies did not immediately respond to a Reuters request for comment.

Reporting by Bharath Manjesh in Bengaluru; Editing by Shounak Dasgupta

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