German healthcare group Fresenius SE (NYSE:FMS) reportedly said last week that it is in talks with generic drugmaker Akorn Inc. (NSDQ:AKRX) for a potential takeover. Akorn shares jumped 10% to $32.60 on news of the potential bid.

Fresenius said in a statement that there is no guarantee that any deal will happen as a result of its talks with Akorn. The Illinois-based generics maker is valued at about $3.7 billion.

Akorn confirmed that it is in talks with Fresenius, adding that it won’t comment on the discussions until an agreement is reached by both parties.

Since Fresenius CEO Stephan Sturm took the helm in July, he has repeatedly demonstrated that he intends for acquisitions to be a defining characteristic of his time in the corner office.

In September, Fresenius made its biggest deal ever and acquired Spain’s private hospital chain Quironsalud for 5.8 billion euros ($6.14 billion).

Akorn brought in $1.1 billion in sales of generic pharmaceuticals last year, including nasal sprays, inhalants and eye-care therapies. The company has manufacturing facilities in the U.S., Switzerland and India and employs approximately 2,200 people.

Analysts reported that a Fresenius-Akorn merger would likely pass anti-trust scrutiny, as the companies don’t have too much overlap.

AKRX shares were trading at $32.81 apiece in mid-morning activity today, up 10.3%.

Material from Reuters was used in this report.