Is AstraZeneca weighing a bid for Forest Labs?

|About: AstraZeneca Group plc (AZN)|By:, SA News Editor

"According to usually knowledgeable people, AstraZeneca (AZN) has been running the numbers on a takeover bid for Forest Labs (FRX)," FT says.

AZN's advisers reportedly gained preliminary board approval for a cash offer then subsequently met with top execs at FRX, although the talks "might have already stalled following a recent surge in FRX's shares," Bryce Elder says, again citing "well-informed types."

Some wonder however, why FRX would have announced Project Rejuvenate if the company were planning on selling itself. "If FRX is looking to get bought, why take such a deep dive into boosting share value?" FierceBiotech's Damian Garde asks.