European shares recover lost ground, boosted by M&A hopes

martes 17 de junio de 2014 04:24 GYT

* FTSEurofirst 300 up 0.3 pct

* Shire gains in anticipation of takeover offers

* Alstom extends fall after Siemens/Mitsubishi bid

* Travel and leisure mount a comeback as oil steadies

By Alistair Smout

EDINBURGH, June 17 (Reuters) - European shares edged higher on Tuesday, boosted by hopes for mergers and acquisitions among healthcare companies and rebounding from losses caused by geopolitical concerns.

Shares in British pharmaceutical group Shire rose 3.5 percent, the biggest gain on the pan-European FTSEurofirst 300, after Reuters reported that it had hired investment bank Citi as an adviser, expecting to receive takeover approaches following a wave of deals in the healthcare sector.

British peer AstraZeneca successfully resisted a takeover approach from Pfizer last month. U.S. medical device maker Medtronic agreed earlier this week to buy Dublin-based Covidiuen.

"Shire have been perennial potential bid candidate for years now," said Jeremy Batstone-Carr, a research analyst at Charles Stanley. U.S. companies were looking for UK-based firms for tax reasons, he said.   Continuación...