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Wednesday, August 13, 2014

InterMune taps banks as it braces for buyout bids -sources, (NASDAQ: ITMN)

Biotechnology company InterMune Inc is working with financial advisers to evaluate strategic options as it braces for potential takeover interest from larger drugmakers, people familiar with the matter said. InterMune is in the early stages of considering options, including a potential sale, and is not soliciting takeover offers currently, the people said on Wednesday, asking not to be named because the matter is not public.The drugmaker, which specializes in treating fatal scarring of the lungs and has a market value of more than $5 billion, is being advised by Centerview Partners and Goldman Sachs Group in its review, the people added.A small number of drugmakers are in the early stages of evaluating a potential offer for InterMune and are working with advisers, but there is no guarantee one will materialize, the people said.Representatives for Centerview could not be immediately reached for comment. Spokesmen for InterMune and Goldman Sachs declined to comment.

InterMune, Inc. (InterMune) is a biotechnology company focused on the research, development and commercialization of therapies in pulmonology and orphan fibrotic diseases. Shares of ITMN traded higher by 14.13% or $6.43/share to $51.92. In the past year, the shares have traded as low as $10.95 and as high as $47.72. On average, 2040810 shares of ITMN exchange hands on a given day and today's volume is recorded at 7256967.