Takeda strikes again, Shire board recommends $64bn offer

Takeda is interested in Shire the maker of Adderall because of the British company’s specialist areas

It is the fifth takeover offer from Takeda, which encompasses £27.26 in new shares and £21.75 in cash, implying a value of £49 per Shire share. On Wednesday, March 28 Bank of America maintained Shire plc (NASDAQ:SHPG) with "Buy" rating.

Such a move would come just one day before Takeda's deadline to put forth a firm offer or walk away under United Kingdom takeover rules.

Shire's board says it is willing to recommend the offer to its shareholders and will extend the deadline until 5pm (GMT) on May 8, 2018.

If they accept the deal, Shire shareholders would hold about 50 percent of the enlarged company's equity, in addition to the upfront cash.

This isn't the first M&A bid for Shire - a $52 billion takeover by AbbVie had been agreed but was terminated in 2014 because of a change in USA tax rules.

Shire, which also specialises in neuroscience, has...

"Shire shareholders would give their right arms to be in Sky's position - two strong U.S. firms chasing it". The business had revenue of $4.14 billion during the quarter.

If successful, the deal would see Takeda leapfrog ahead of AstraZeneca and Eli Lilly to become one of the largest pharmaceutical companies by sales. Inc.to develop and sell its cancer drug Lenvima, both alone and in combination with Merck's immunotherapy product, Keytruda. The company has a market cap of $47,548.18, a P/E ratio of 10.35, a P/E/G ratio of 1.23 and a beta of 1.31.

After a series of bids from the Japanese pharma, Shire's board has made a decision to accept a bid of £49 per share, meeting today's deadline under the United Kingdom takeover code when a bid had to be formalised. Shares in big name companies such as construction equipment maker Caterpillar, Google parent company Alphabet and soft drinks maker Coca-Cola suffered steep declines on Tuesday.

Shire (NASDAQ:SHPG) last announced its earnings results on Thursday, April 26th.

Hasegawa was determined to look overseas for growth as well as leadership. And since Shire owes $19 billion in debt following its Baxalta acquisition, its enterprise value is approaching $70 billion, which is about $25 billion bigger than Takeda's. The biopharmaceutical company reported $3.98 EPS for the quarter, beating the Zacks' consensus estimate of $3.86 by $0.12. The similarity in size has raised questions on whether the damage to Takeda's finances would be worth the boost to its portfolio and pipeline.

Investors in Shire, meanwhile, have adopted a cautious stance. The takeover news has sent the company's shares diving and the Japanese firm lost nearly 5 percent of their value recently as investors fretted over the record breaking deal in Japan's pharma history.

Related news:

Hot News

isis-killer-beheading-video-story-top DeMarcus Cousins Unlikely To Get Max Contract In Free Agency
Apr 26, 2018 - 12:31
He said the team was headed that way before Demarcus Cousins was lost for the season with an Achilles injury January 26th. It was his first full campaign with the New Orleans Pelicans after getting traded during last season's All-Star Break.

isis-killer-beheading-video-story-top Theo Walcott nets Everton's victor
Apr 25, 2018 - 15:23
Since taking the reins, Allardyce has regularly angered the Goodison Park faithful with his comments to the press. Newcastle host West Bromwich Albion in their next match whilst Everton travel to Huddersfield next weekend.

isis-killer-beheading-video-story-top White House releases Ronny Jackson's evaluations in attempt to prove his merit
Apr 25, 2018 - 15:20
A White House official then said that Jackson would not withdraw his nomination. "A lot of folks want to be led and managed". The process seemed disorganized, according to two VA officials with knowledge of how the preparations were handled.

isis-killer-beheading-video-story-top Sensex rises over 100 points, Nifty above 10600
Apr 25, 2018 - 15:15
Shares of HDFC Bank Ltd rose as much as 1.2 per cent to ₹1,979 in early trade today before slipping into negative territory. The benchmark BSE Sensex was trading higher by almost 150 points on heavy buying in IT, TECk and healthcare stocks.

isis-killer-beheading-video-story-top Meek Mill Is Not A Hero
Apr 25, 2018 - 15:11
The audience cheered as Meek entered the arena, before he was greeted by fans, including Kevin Hart . The Supreme Court asked the judge to issue an immediate order for Mill's release on unsecured bail.

isis-killer-beheading-video-story-top Vieira makes U-turn on Arsenal decision
Apr 25, 2018 - 15:09
I'm really pleased with that. 'What is important for me is to focus and concentrate about what I'm doing at the moment. Patrick Vieira could be a fit to replace Arsene Wenger as the Arsenal manager. 'I still have, of course, next year.

isis-killer-beheading-video-story-top New York Mets Send Matt Harvey to Bullpen
Apr 24, 2018 - 04:29
The poor pitching has resulted in Mets manager Mickey Calloway not committing to Harvey taking his next turn in the rotation. The Mets do have options in the rotation if they don't want to go back to Harvey, most notably Jason Vargas .

isis-killer-beheading-video-story-top Kanye West Reportedly Tells HOT97's Ebro Darden "I Love Donald Trump"
Apr 24, 2018 - 04:22
One follower wrote, "Alright so Kanye West not only endorsed Trump , but he just publicly endorsed Candace Owens' thinking". In his latest video , he says West becoming United States president is a genuine possibility.

isis-killer-beheading-video-story-top Elliott tries for two milestones at Richmond — NASCAR notebook
Apr 24, 2018 - 04:20
Petty earned three victories once again in the nine opening races of 1974, with Cale Yarborough taking four of his own. However, Truex was closing in, with Denny Hamlin and Kevin Harvick not that far off. (28) Brad Keselowski, Ford, 402.

isis-killer-beheading-video-story-top Venkaiah Naidu rejects impeachment notice against CJI Dipak Misra
Apr 24, 2018 - 04:18
The motion was signed by 71 parliamentarians out of which seven members had retired before the motion was submitted to Naidu. Naidu is of the opinion that the Hon'ble Members of Parliament who presented the petition are unsure of their own case.

isis-killer-beheading-video-story-top No let up in Kashmir protests
Apr 24, 2018 - 04:17
It was also underlined that students do not protest during college or school hours, but at the time, when they leave for home. The 8-year-old girl hailing from Rasana village of Kathua had gone missing while grazing ponies near her home on January 10.

isis-killer-beheading-video-story-top Mike D'Antoni: 'We haven't played a meaningful game since January'
Apr 24, 2018 - 04:13
It will be interesting if the Rockets do decide to go back to Capela a bit more in Game 4 and counteract Towns' resurgent play. With the series now at 2-1 in favor of the Rockets , Minnesota will try to tie things up when the two teams clash in Game 4.

isis-killer-beheading-video-story-top Central role lets Salah take centre-stage at Liverpool
Apr 23, 2018 - 21:47
It did a lot when he played here but now you see if he has a chance and he misses it, the next time he knows he will score. Meanwhile, Bundesliga champions Bayern are aiming to end Real's dream of a third-straight Champions League title.

isis-killer-beheading-video-story-top Big Brother Naija (BBnaija) : See Miracle's Victory Detail
Apr 23, 2018 - 21:43
The pilot and model contested keenly for the grand prize of 25 million and a brand new auto alongside other housemates for 85days. The young pilot will be awarded N25 million in cash and N20 million worth of gifts, which adds up to the N45 million grand prize.

isis-killer-beheading-video-story-top In the committee, the opposition has been building ahead of Monday's session
Apr 23, 2018 - 21:42
Should the committee give him the green light the full Senate, including Jones, will have the opportunity to vote to confirm him. Paul met with Pompeo on Thursday, at Trump's request, but had no change in his position, the senator's spokesman said.