p1images-istockphoto-com-money-
p1images / iStockphoto.com
23 April 2018Asia-Pacific

Takeda makes fourth offer to buy Shire

Japan-based Takeda has upped its offer to buy Ireland-headquartered Shire for the fourth time, raising its bid to approximately £44 billion ($61.6 billion).

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”.

In early April, LSIPR  reported that Takeda was considering making an offer for the biopharmaceutical company at a “preliminary and exploratory stage”, but that it hadn’t yet approached the Shire board.

At the time, Takeda said that the acquisition would strengthen its core therapeutic areas of oncology, gastroenterology and neuroscience, and balance Takeda’s geographic focus to align with market opportunities in the US.

On Friday, April 20, Shire announced a new offer from Takeda.

Takeda is now offering £47 per share, comprised of £21 in cash and £26 of new Takeda shares. This is an increase of approximately 7% on the original offer and a premium of approximately 58% to Shire’s closing share price of £29.81 on March 23, 2018, according to Takeda.

The Japan-based company said that it believes this proposal represents a “highly compelling opportunity” for Shire shareholders.

Shire’s board is considering the offer.

Also on April 19, Allergan confirmed that it was in the early stages of considering making an offer for Shire. However, later the same day, Allergan announced that it would not be making a bid.

Did you enjoy reading this story?  Sign up to our free daily newsletters and get stories sent like this straight to your inbox.

Join us at LSPN North America on April 26,  find out more here.


More on this story

Big Pharma
8 May 2018   Japanese pharmaceutical company Takeda has agreed to acquire biotech company Shire for $62 billion.
Americas
23 May 2018   Pharmaceutical companies Lundbeck and Takeda have sued generic drug producer Lupin for infringing a patent directed to anti-depressant medication Trintellix (vortioxetine hydrobromide).
Big Pharma
31 October 2018   Japan-based Takeda Pharmaceuticals is reportedly planning to sell its European over-the-counter business to lessen its debt from acquiring biotech company Shire.

More on this story

Big Pharma
8 May 2018   Japanese pharmaceutical company Takeda has agreed to acquire biotech company Shire for $62 billion.
Americas
23 May 2018   Pharmaceutical companies Lundbeck and Takeda have sued generic drug producer Lupin for infringing a patent directed to anti-depressant medication Trintellix (vortioxetine hydrobromide).
Big Pharma
31 October 2018   Japan-based Takeda Pharmaceuticals is reportedly planning to sell its European over-the-counter business to lessen its debt from acquiring biotech company Shire.