28th Mar 2018 13:53
"There can be no certainty that any firm offer for the company will be made nor as to the terms on which any firm offer might be made," Shire cautioned.
Shire's response came after Takeda made the announcement after press reports of interest in the Irish drugmaker sent its shares up to 26% higher on the day to
Shire's shares have since fallen back to 15% higher at 3,540.00 on Wednesday. At the current share price, Shire's market capitalisation of
"Takeda confirms that it is considering making an approach to Shire regarding a possible offer for the company," Takeda said in a statement earlier Wednesday. "Takeda's consideration of such an offer is at a preliminary and exploratory stage and no approach has been made to the board of Shire. There can be no certainty that an approach, if made, will lead to any transaction".
Takeda emphasised it "continuously considers" options with regards to accelerating its growth. In particular, it is focused on growing its core gastroenterology, oncology and neuroscience plus vaccines.
The deal with Shire - should it emerge - would "strengthen" its core therapeutic areas.
"Clearly defined strategic and financial objectives are core to Takeda's disciplined approach to acquisitions," Takeda cautioned, "including in relation to its dividend policy and credit rating, which are well-established. Any potential offer for Shire, if made, would have to align with this strict investment criteria".
Related Shares:
Shire