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Biogen Jumps as Merger Rumors Resurface

Shares of biopharmaceutical company Biogen (BIIB) spiked Tuesday afternoon following reports that the company was drawing takeover interest from rivals Merck (MRK) and Allergan (AGN) . Biogen shares closed trading up 9.4% to $330.11.

There have been Biogen takeover rumors floating around since April, and while the possibility of a deal seems higher today, according to The Wall Street Journal's sources, communications between Biogen and its two potential suitors...