ADRs quickly plunged 9% in premarket trading amid a report that the company is preparing to fight back against Halozye Therapeutics (HALO) takeover offer. Shares of Halozyme rose 1%. The German drugmaker has hired Morgan Stanley for a takeover defense,

The stock of German drug-discovery and development company Evotech SE jumped 4% early Monday, after Halozyme Therapeutics Inc. offered an update on its non-binding takeover proposal at 11 euros a share in cash,

Halozyme Therapeutics Inc. plans to finance its €2 billion ($2.1 billion) proposed takeover of Germany’s Evotec SE in cash, according to Chief Executive Officer Helen Torley. Most Read from BloombergSaudi Neom Gets $3 Billion Loan Guarantee From Italy Export Credit Agency SaceThe Urban-Rural Divide Over Highway Expansion and Emissions“We feel confident in being able to fund this as a fully cash deal,

Evotec SE has attracted takeover interest from Nasdaq-listed biotech firm Halozyme Therapeutics Inc. for a deal that would value the German drug developer at €2 billion ($2.1 billion). Most Read from BloombergUnder Trump,

Halozyme Therapeutics, Inc. (NASDAQ: HALO) ("Halozyme" or the "Company") confirmed it has submitted a non-binding proposal to the Management Board and Supervisory Board of Evotec SE (NASDAQ: EVO) ("Evotec") to acquire Evotec for €11.

Halozyme CEO Helen Torley joins to discuss the company's intended acquisition of biotech company Evotech. She speaks with Caroline Hyde on "." (Source: Bloomberg)