Meda AB (OMX: MEDA A) has shot up 11% in the first few minutes of trading after Wall Street Journal published an article that Valeant Pharmaceuticals International Inc has made a takeover approach for Meda.Meda said in a release that it has not received an approach of the kind described in the article but reminds that the companies collaborate on several fronts, like shown in the recent Sublinox approval.
The stock's advance was halted after the release and subsequent management comments that they know nothing of the sort to suggest that article would be based on anything more than pure speculation.
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