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Shire Rejects Takeda Takeover Bids

06:46 EDT 19 Apr 2018 | Genetic Engineering News

Shire said today its board has rejected at least two takeover proposals by Takeda Pharmaceutical, but both companies have confirmed that they remain in talks about a possible acquisition. Shire’s board turned down Takeda’s initial approximately £41 billion ($58.4 billion) takeover offer, which would have left Shire shareholders owning 50% of the combined company—and a third proposal in which Takeda raised its offer for Shire to approximately £44 billion ($62.6 billion), and would have given Shire shareholders about 51% of the Shire–Takeda combo. Not clear from Shire’s announcement is whether the board additionally rejected Takeda’s second takeover offer of approximately £43 billion ($61.2 billion). Also unclear is whether Takeda’s offers for Shire included Shire’s oncology business—which Shire said Monday it agreed to sell to Servier for $2.4 billion . Takeda has previously said that expanding its oncology business was a significant reason why it was considering ...

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Mergers & Acquisitions
Commercial and market reports on mergers and acquisitions in the biotechnology, pharmaceutical, medical device and life-science industries. Mergers and acquisitions (abbreviated M&A;) is an aspect of corporate strategy, corporate finance and manageme...