Shire finally seduced by Takeda

25 April 2018

After a four-week courtship and four rebuttals, Shire (LSE: SHP) has finally succumbed to Takeda Pharmaceutical’s (TYO: 4502) fifth offer to acquire the Ireland-based rare diseases company.

The Shire board has indicated to Takeda that it would be willing to recommend the revised proposal to Shire shareholders subject to satisfactory resolution of the other terms of the possible offer, including completion of reciprocal due diligence by Shire on Takeda. Accordingly, the board will engage in discussions with Takeda in relation to these terms.

The revised proposal is equivalent to a value of approximately £46 billion (~$64 billion) for the entire issued and to be issued share capital of the company, comprising. £27.26 per share in new Takeda shares and£21.75 in cash, or around £49.00 per share in total, up from the fourth previous offer of £47 per share.

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