Takeda hikes Shire takeover bid to almost $61 bn

April 20, 2018
Japanese drugs maker Takeda Pharmaceutical has sweetened its offer for Irish-based rival Shire

Japanese drugs firm Takeda on Friday upped its takeover bid to $60.7 billion (49 billion euros) for Irish-based peer Shire, which has already rejected its previous three overtures.

Takeda announced in a statement that it has lifted its cash and stock bid to the equivalent of £47 per share, valuing Shire at £42.8 billion.

That was marginally higher than the prior bid that was pitched at £46.50 per share or £42 billion.

"After careful consideration, Takeda Pharmaceutical Company Limited is today making an improved proposal to the Board of Shire plc," read a statement from the Osaka-based group.

It added: "Takeda believes that the improved proposal represents a highly compelling opportunity for Shire shareholders, which reflects a further increase in value and a material increase in the cash component of the consideration mix."

Shire replied Friday in a separate statement that it was "considering its position" over the latest approach and will make a further announcement in due course.

Shire, which is based in Dublin but listed in London, disclosed on Thursday that it had rejected three approaches from Takeda because they all "significantly undervalued the company, its growth prospects and pipeline".

But it added that its advisers have entered a dialogue with Takeda to discuss "whether a further, more attractive, proposal may be forthcoming".

Friday's news also came one day after Irish-based pharmaceutical peer and Botox maker Allergan ruled out a counter-offer for Shire, extinguishing talk of a bidding war.

The deal would represent Takeda's biggest-ever takeover, according to Japanese media.

Led by Frenchman Christophe Weber, the Japanese firm has been actively looking overseas for acquisitions.

In 2011 it took over Swiss rival Nycomed for 9.6 billion euros (then $13.6 billion).

However, some analysts are concerned that a of this magnitude could put too much pressure on Takeda's own finances.

Explore further: Japan's Takeda buying US cancer drugmaker for $5.2bn (Update)

Related Stories

Japan's Takeda buying US cancer drugmaker for $5.2bn (Update)

January 9, 2017
Japan's top pharmaceutical company Takeda said it is buying a US cancer drugmaker for $5.2 billion, as its top executive left the door open to more overseas acquisitions.

Takeover target Shire promises strong growth

June 23, 2014
Takeover target Shire on Monday highlighted its potential as a standalone drugmaker, offering investors a rosy projection of its earnings potential that it believes is not reflected in the acquisition proposal made by U.S.-based ...

Drugmaker Shire backs new $53.6-bn AbbVie takeover bid (Update)

July 14, 2014
Shire Pharmaceuticals on Monday backed a revised $53.6-billion takeover from US giant AbbVie, reversing its opposition to a deal, and added it was in "detailed discussions" over terms.

AbbVie raises its bid for Shire by about 11 pct (Update)

July 8, 2014
U.S. drugmaker AbbVie has boosted its offer for Shire by 11 percent to about $51.3 billion, hoping it will be enough to pique the interest of its British counterpart.

Recommended for you

Tongue-in-cheek Nobels honor nutritional analysis of cannibalism, roller-coaster kidney stones treatment

September 14, 2018
A nutritional analysis of cannibalism and treating kidney stones on roller-coasters were research projects honored by tongue-in-cheek awards at Harvard University Thursday, designed to make you laugh first, and think later.

Pediatric robot patient offers new level of realism for doctors in training

September 10, 2018
A team of researchers and engineers at Gaumard Scientific has unveiled a new robot that raises the bar on medical training devices. The robot, called HAL, has been made to look like a five-year-old male patient and offers ...

Why men say they've had more lifetime sexual partners than women

July 25, 2018
The disparity between the number of sexual partners reported by men and women can largely be explained by a tendency among men to report extreme numbers of partners, and to estimate rather than count their lifetime total, ...

Censors jump into action as China's latest vaccine scandal ignites

July 22, 2018
Chinese censors on Sunday deleted articles and postings about the vaccine industry as an online outcry over the country's latest vaccine scandal intensified.

Revenge of a forgotten medical 'genius'

June 30, 2018
It's not an uncommon fate for a pioneering scientist: languishing unrecognised in his time before dying in obscurity. But as his 200th birthday approaches, the life-saving work of a Hungarian obstetrician is finally getting ...

Yes, you can put too much chlorine in a pool

June 2, 2018
(HealthDay)—Before you take a dip in the pool this summer, be sure there's not too much chlorine in the water.


Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.