Finsbury Works Takeda's Sweetened Bid for Shire

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

Dublin-based Shire, a member of Britain's benchmark FTSE 100 stock index, said Takeda's fifth offer was worth 49.01 pounds per share, comprised of the equivalent of 27.26 pounds per share in new Takeda shares and 21.75 pounds per share in cash.

The bid follows a string of offers rejected by Shire over the past month and comes as Takeda looks to expand overseas in the face of an expected drop in drugs prices at home. In Wednesday, March 28 report Bank of America maintained the stock with "Buy" rating.

Takeda acknowledged its offer in a brief statement, confirming that the company did make.

But shares in Takeda extended recent losses, tumbling 7pc as investors fretted over its ability to buy a company twice its size, raising doubts about whether Shire shareholders will accept a bid that is 56pc in new Takeda shares.




Notably, Comcast reported a profit for its first quarter that increased 21% from past year of USD3.12 billion, or USD0.66 per share. Shire will bolster its GI and neuroscience units and give it an entry into rare diseases and hemophilia. Also, more than two thirds (nearly 60 percent) of Shire's sales come from the US. Under the leadership of its first non-Japanese CEO Mr Christophe Weber, Takeda has made some strategic acquisitions and finalized some big deals including the latest acquisition of U.S. oncology group Ariad Pharmaceuticals for over $5bn. This compares with USD2.57 billion, or USD0.53 per share, in last year's first quarter. The company recently sold its oncology unit to unlisted French drugmaker Servier for $2.4 billion. The company has already locked in 1 trillion yen ($9 billion) in financing from Sumitomo Mitsui Financial Group Inc. and Mitsubishi UFJ Financial Group Inc.

Shire is a global leader orphan drug development and commercialization. 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. Five analysts have made estimates for Shire's earnings, with estimates ranging from $3.28 to $3.79.

Takeda believes the new proposal represents "a highly compelling opportunity for Shire shareholders, which reflects a further increase in value and a material increase in the cash component of the consideration mix". Zacks Investment Research's EPS calculations are an average based on a survey of research firms that follow Shire. Investors in Takeda are also cautious.

As with all the previous bids, the merged company would be listed in Japan and the US.

Related news:

Hot News

isis-killer-beheading-video-story-top Palestinians injured by Israeli army on Gaza border
Apr 25, 2018 - 15:19
We believe that the suspect has been using different or fake identities since the day he entered the country or while he stayed here.

isis-killer-beheading-video-story-top Apple to start paying €13bn Irish tax bill within weeks
Apr 25, 2018 - 15:18
Apple has to pay €13 billion, or about $16 billion, as part of a record-breaking back tax judgment from August 2016 . In the meantime, the money will be held by an escrow account , Donohoe said.

isis-killer-beheading-video-story-top Documents show Obama praised VA nominee Jackson, supported promotion 'immediately'
Apr 25, 2018 - 15:17
The report says staff members described the working environment as "being caught between parents going through a bitter divorce". We take very seriously our constitutional duty to thoroughly and carefully vet each nominee sent to the Senate for confirmation.

isis-killer-beheading-video-story-top Sensex loses 100 points to close shade above 34500
Apr 25, 2018 - 15:14
At 9:18 am, the Sensex was trading at 34,569 down 47.03 points, while the broader Nifty50 was ruling at 10,597, down 16.80 points. The NSE Nifty , after shuttling between 10,636.80 and 10,569, finally settled 29.65 points, or 0.28 per cent higher at 10,614.35.

isis-killer-beheading-video-story-top Rapper Meek Mill freed from USA jail after months-long campaign
Apr 25, 2018 - 15:09
Last week, Meek Mill told CNN's Don Lemon that he was optimistic that he was going to get out of jail sooner than later. Meek's lawyer, Joe Tacopina , says, "Meek was unjustly convicted and should not have spent a single day in jail".

isis-killer-beheading-video-story-top Allison Mack Released On $5 Million Bond
Apr 25, 2018 - 15:07
If convicted, Mack and Raniere could face a mandatory minimum sentence of 15 years in prison, up to life imprisonment. Attorney Richard Donoghue, "both sexually and for their labour, to the defendants' benefit".

isis-killer-beheading-video-story-top Police Taser, Arrest Man Accused of Fondling Passenger on Plane
Apr 24, 2018 - 04:29
We thank our crews and airport customer service team for their excellent work in this situation'. American Airlines said flight 2446, headed to Chicago's O'Hare airport, left at 10:34 p.m.

isis-killer-beheading-video-story-top Bloomberg donates $4.5M to United Nations climate body after USA cuts
Apr 24, 2018 - 04:29
His charity, Bloomberg Philanthropies, offered $15m to cover a separate climate change shortfall a year ago . "That is true", Bloomberg said.

isis-killer-beheading-video-story-top Kyle Busch makes it three in a row at Richmond
Apr 24, 2018 - 04:22
Just weren't very strong. "We're pushing every area we can just like everybody else is and, frankly, I have no shame in that". He considers Richmond Raceway, in particular, a place he can always contend for victory, and with good reason.

isis-killer-beheading-video-story-top Kanye West Reaffirms His 'Love' for Donald Trump
Apr 24, 2018 - 04:22
The rapper isn't a hero of the Right, nor has he discarded liberal politics . "You're overly privileged Americans". Owens told Select All in 2016 that she had never heard the word "dox" before asking for $75,000 to build her site.

isis-killer-beheading-video-story-top Blue Jays pitching coach says Stroman the least of his worries
Apr 24, 2018 - 04:20
The Blue Jays responded with a run in the third when Sanchez dropped a Sabathia changeup with a man on third base. An ugly sixth inning Saturday put the Toronto Blue Jays in danger of losing their first series of the season.

isis-killer-beheading-video-story-top Do the Minnesota Timberwolves have a shot at the second round?
Apr 24, 2018 - 04:13
Butler led the way with 28 points, seven rebounds and five assists, while Teague posted 23 points and eight assists. During the regular season KAT scored 21.3 points per game, good for 24th in the National Basketball Association .

isis-killer-beheading-video-story-top Games With Gold Titles Revealed for May 2018
Apr 24, 2018 - 04:09
You will be able to access them completely free of charge, as long as your Xbox Live Gold subscription is active. Finally, from 16th May to 15th June there will be Hideo Kojima's Metal Gear Solid V: The Phantom Pain .

isis-killer-beheading-video-story-top Saudi Arabian security forces shoot down toy drone near royal palace
Apr 24, 2018 - 04:06
An unidentified senior Saudi official was quoted as saying by Reuters that King Salman was not at his palace at the time of the incident.

isis-killer-beheading-video-story-top Jubilation in Enugu Over Big Brother Naija
Apr 23, 2018 - 21:44
The privately educated Cee-C said she likes to learn new stuff and is an avid reader. Oluwabamike Olawunmi known as "Bambam" said life was good after the reality show.