19th Apr 2018 13:26
LONDON (Alliance News) - Takeda Pharmaceutical Co Ltd on Thursday confirmed it made a revised takeover proposal to Shire PLC a week ago, which the Irish pharmaceutical firm rejected.
The proposal was GBP46.50 per share. Of this, GBP17.75 was in cash and the rest in Takeda shares.
Shire's current market capitalisation is GBP35.54 billion. It's shares were up 3.5% on Thursday at 3,896.50 pence each. Takeda's offer would value the FTSE 100 firm at around GBP42.41 billion.
Takeda says the proposal did not constitute an offer, and emphasised there is no certainty a formal offer will be made.
In late March, Takeda said it was considering an offer for FTSE 100-listed Shire. Earlier Wednesday, Reuters reported the Japanese firm had proposed GBP46.50 a share for Shire, but did not mention whether the offer had been accepted or rejected.
On Monday, Shire sold off its Oncology business to French pharmaceutical firm Servier SAS for USD2.4 billion. The day before Takeda's original announcement on March 28, shares were closed at 3,070.00p.
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