Pharmaceutical giant Mylan offered to acquire Dublin-based healthcare supplier Perrigo for $28.9bn in the latest proposed mega-merger in the pharmaceutical sector.
Mylan's offer of $205 per share in cash and stock sent shares of Perrigo soaring about 25%, and Mylan shares up 12%.
Mylan makes more than 1,400 products and employs 18,000 worldwide – including more than 1,000 in Ireland.
Perrigo has been headquartered in Dublin since 2013 after it made a $8.6bn acquisition of Elan as part of a tax inversion scheme.
Mylan is currently involved in an acquisition that would see it move its headquarters to the Netherlands, as part of a $5.3bn deal with Abbott Laboratories.