24th Apr 2018 12:43
LONDON (Alliance News) - Bloomberg on Tuesday reported Takeda Pharmaceutical Co Ltd is nearing a preliminary takeover agreement for Shire PLC, having approached the FTSE 100-listed drugmaker four times so far.
The two companies could announce a preliminary agreement as early as Tuesday, Bloomberg said, citing people with knowledge of the matter. Under UK takeover rules, Takeda has until 1700 BST on Wednesday to make a firm offer or walk away from the deal.
Bloomberg said discussions have revolved around an improved offer, including a possible increase in the cash component of the deal.
"The exact terms of the offer couldn't be immediately learned," Bloomberg said, and added that the two firms could seek an extension to finalise the talks.
https://www.bloomberg.com/news/articles/2018-04-24/takeda-is-said-to-near-preliminary-agreement-to-acquire-shire
Shire on Friday said it was "considering" its position following the receipt of a fourth offer from Takeda. The latest proposal was for GBP47.00 per share, comprising GBP21.00 in cash and GBP26.00 of new Takeda shares.
The offer valued Shire at approximately GBP44 billion, and would leave Shire shareholders owning 49% of the enlarged group.
Shares in Shire were up 5.3% at 4,001.50 pence on Tuesday, making it the best performer in the FTSE 100 and giving it a market capitalisation of GBP36.78 billion.
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