24th Apr 2018 13:06
LONDON (Alliance News) - FTSE 100-listed Irish pharmaceutical firm Shire PLC said Tuesday that it has received a revised merger proposal from Takeda Pharmaceutical Co Ltd, making it the fifth approach by the Japanese firm.
Shire's board said it is "considering its position", and stressed that there was no guarantee on any firm offer. The company did not disclose any specific details regarding the latest proposal from Takeda.
Since the end of March, Shire has received a GBP44.00 per share proposal, with Shire shareholders owning around half of the enlarged Takeda. The company, however, rejected the offer terming it as "significantly" undervalued.
The second was worth GBP45.50 a share, which was again rejected, as it did a third proposal of GBP46.50 per share. The fourth offer of GBP47.00 a share was also rejected by Shire.
All the proposals consisted of a mix of cash and Takeda shares.
Shares in Shire were up 5.1% at 3,995.00 pence on Tuesday.
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