Shire is set to approve a $64.3bn by Takeda

By Catherine Sturman
Worth over $30bn, Takeda is not willing to give up on its proposed takeover of pharmaceutical company Shire. The company has had previous bids rejected...

Worth over $30bn, Takeda is not willing to give up on its proposed takeover of pharmaceutical company Shire. The company has had previous bids rejected by the company, yet Shire’s Board has approved a $64.3bn acquisition. At completion, Shire shareholders would own approximately 50%.

The company’s new bid has is fourth offer placed on the table. Takeda is continuing to expand its international reach but faces increased challenges in the pricing of drugs amongst growing competition in a number of rare diseases.

The deal will enable Takeda to further its presence within the US. If successful, it will become one of the largest international acquisitions this year, and could compete with international giants, such as AstraZeneca, The Telegraph reports.

See also

However, Takeda shares have dipped by close to 10% upon the news release, highlighting the unease of shareholders. Shire is presently twice the size of Takeda, so it is unknown how such a takeover will impact the business.

"While this offer represents a solid improvement over Takeda's third bid (38% cash), we still wonder if it is enough to satisfy Shire shareholders," Jefferies analyst David Steinberg informed CNBC.

Nonetheless, Shire’s board has agreed on an extension to the previous regulatory deadline, and now have up to May 8th to make a final decision.

Share

Featured Articles

Philips Future Health Index Report: AI to Cut Waiting Times

Healthcare technology leader Philips says virtual care and AI is turning in an effort to cope with demand in its Future Health Index Report 2024

HCLTech and Olympus Advance AI into the Healthcare Industry

Giants HCLTech and Olympus Corporation, have developed their partnership to utilise technology and AI to transform the healthcare industry.

Cancer Vaccines Breakthrough a Glimpse of Healthcare Future

As the UK's NHS becomes the first healthcare provider to launch a cancer vaccine testing programme, we explore this groundbreaking oncological treatment

Change Healthcare Cyberattack Fallout Continues

Health Insurance & Finance

McKinsey: National E-health Initiatives on the Rise

Technology & AI

Edwards Lifesciences: a Profile of the Heart Tech Specialist

Medical Devices & Pharma