Chiron has rejected Novartis' takeover offer of $40 per share, setting the stage for what analysts believe is likely to be a sweetened bid package. Some analysts pegged the next likely bid at $45 per share for all shares Novartis doesn't already own. That would raise the value of the offer to more than $5 billion. Novartis has already shelled out more than $8 billion for two generic drug makers this year. A Chiron takeover would make it a big player in the global vaccine business.
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