Company has put forward a fourth offer to acquire Shire, a day after the Irish biopharmaceutical company best known for ADHD drug Adderall rejected a previous offer.
The latest offer is for approximately 拢44.3bn, or 拢26 per share in new Takeda shares and 拢21 per share in cash鈹� a total of 拢47 per share.
The offer made the previous day was for 拢46.50 per share, comprised of 拢17.75 in cash and 拢28.75 of new Takeda shares.
The two other rejected offers were for 拢41bn and 拢43bn respectively. The most recent offer is an increase of approximately 7% of the original proposal made on in March.
In a statement, Japan-based Takeda said: 鈥淭akeda believes that the improved 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. On completion of the proposed acquisition, Shire shareholders would hold a very meaningful stake in a leading global biopharmaceutical company and benefit from the material synergies expected to be derived from the acquisition.鈥�
If successful, the deal would be the largest ever overseas acquisition by a Japanese company and would see Shire shareholders own approximately 49% of the enlarged Takeda.
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By GlobalDataIf the takeover happens, Takeda would be worth an estimated $80bn and the deal could significantly boost the company鈥檚 drug pipeline and presence in the US.
The new deal represents an 18% increase in the previous cash amount, a deal which Shire said 鈥榮ignificantly undervalued the company and Shire鈥檚 growth prospects and pipeline鈥�.
In a statement, Shire said: 鈥淪hire notes the announcement made by Takeda and confirms it has received a fourth proposal on 20 April 2018 regarding a possible offer for the company.
鈥淭he Board of Shire is considering its position with respect to the fourth proposal and will issue a further announcement in due course.鈥�
Takeda also expressed that it wishes to extend the deadline by which it must announce a firm intention to make an offer, currently set for 2 April 2018, to allow for a 鈥榗ustomary due diligence review鈥�.
