Shire considers Takeda's revised £46bn takeover offer

Shire considers Takeda's revised £46bn takeover offer

The offer comprises £21.75 in cash plus £27.26 in Takeda stock, the equivalent of about £20.4 billion in cash plus £25.6 billion in Takeda stock.

The prospect of one of the biggest takeovers yet seen in the pharmaceuticals industry has taken a step forward with Takeda and Shire reaching a preliminary £46 billion agreement. SHPG is touching $160.5 during the last trading session, after decreased 2.35%.Shire plc has volume of 1.16 million shares.

The latest bid comes as Shire prepares to hold its annual shareholder meeting in Dublin at 2.45 p.m. local time, when it is expected to be grilled by its investors about the potential acquisition by Takeda.

Weber has also been proactive in chasing down cross-border deals, announcing the $5.20-billion purchase of US cancer drug maker Ariad Pharmaceuticals Inc. a year ago and Belgian biotech group TiGenix NV in January as it tries to rebuild its drug pipeline.

Acquiring Shire would transform Takeda's position in rare diseases, gastrointestinal disorders and neuroscience, where Shire is a leader in ADHD drugs. Under the leadership of its first non-Japanese CEO Mr Christophe Weber, Takeda has made some strategic acquisitions and finalized some big deals including the latest acquisition of USA oncology group Ariad Pharmaceuticals for over $5bn.




Whitbread edged lower by 9p to 4,177p after bowing to pressure from an activist investor and announcing plans to spin off Costa Coffee into a separately-listed business from its Premier Inn brand. And the shareholders of each company will have the final say.

But analysts and business professors predict the takeover will nearly certainly result in layoffs of several hundred Shire employees over the next couple of years - mostly among administrative employees whose duties could be filled by workers for Osaka-based Takeda. The combined firm would be the eighth-biggest drug maker in the world.

He expects employees in research and development to be spared because Takeda is buying Shire for its pipeline, which focuses mostly on drugs for rare diseases.

Hasegawa was determined to look overseas for growth as well as leadership. The biopharmaceutical company reported $3.37 earnings per share for the quarter, missing the Thomson Reuters' consensus estimate of $3.58 by ($0.21). The cash component has increased from an initial 36 percent to 44 percent of the overall offer.

Takeda, now worth US$33 billion by market value, had 466.5 billion yen (US$4.3 billion) in cash and short-term investments as of end-December. However, this bid is significantly larger than its previous acquisitions and if approved by shareholders would be the largest takeover by a Japanese company.

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