Takeda puts forward new bid for Shire

Lloyd Doyle
April 24, 2018

Based on Takeda's current market capitalisation, Shire shareholders would own approximately 49 per cent. of the enlarged Takeda.

Takeda has put forward a new bid for Shire, increasing the cash portion of the deal.

Shire had rejected Takeda's first three proposals on Thursday, April 19 after concluding that Takeda was continuing to "significantly undervalue the company and Shire's growth prospects and pipeline".

Shire PLC, the second-largest biotech employer in MA, said Tuesday that it had received yet another buyout proposal from Takeda Pharmaceutical as a deadline for making a firm offer looms.


It replaces an earlier possible offer of £28.75 per share in new Takeda shares and £17.75 per share in cash, representing a potential value of £46.50 per share and around £44 billion for the total.

In a short statement this lunchtime, Shire said Takeda had revised its proposal. The previous offer on Friday from Takeda valued it at £42.8bn, which the FTSE 100 firm had said it was considering.

Shire confirmed it had received a better offer but did not disclose the details. Sign up to our free daily newsletters and get stories sent like this straight to your inbox. However, later the same day, Allergan announced that it would not be making a bid.

Other reports by Iphone Fresh

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