Apr 25 2018
The Japanese company is offering the equivalent of 49 pounds ($68.55) a share, including 27.26 pounds in stock and 21.75 pounds in cash, Shire said in the statement.
Any deal is subject to the resolution of several issues, including completion of due diligence by Shire on Takeda, the Dublin-based company said. Credit Suisse Group reaffirmed an "outperform" rating and issued a GBX 4,000 ($55.79) price target on shares of Shire in a report on Monday, March 5th.
Takeda wants Shire, a specialist in the treatment of rare conditions, to help it expand its global interests - particularly in the USA - as it faces down the prospect of weaker drug prices in its home market. It represents a 58 percent premium to where Shire shares closed on March 23, the day before media reports of a possible bid.
However, that deadline can be moved back at the request of the FTSE 100 drugmaker and Takeda had said on Friday that it hoped negotiations with Shire would lead to an extension of the cut-off date. The Japanese company last week raised its offer to 47 pounds a share and lifted the cash portion of the bid after three prior proposals were rejected.
It would significantly boost Takeda's position in gastrointestinal disorders, neuroscience, and rare diseases, including a blockbuster hemophilia franchise.
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Among 14 analysts covering Shire (NASDAQ:SHPG), 11 have Buy rating, 0 Sell and 3 Hold. A deal would also likely signal a further wrenching reorganization for local Shire staffers, who have been through repeated revamping under CEO Flemming Ornskov while Takeda has spent much of the past two years restructuring and cutting research.
"Takeda's shares have been valued for their stability and relatively high dividend", said Daiwa Securities analyst Kazuaki Hashiguchi, adding this made them attractive even to investors without specialist knowledge of the drug sector. Takeda has declined about 24 percent this year, valuing the firm at about $35 billion.
Shire has always been seen as a likely takeover target.
The companies now have until May 8 under an extended deadline to thrash out the finer points of the deal and while Takeda kicks the tyres at Shire before its board gives final approval. If the takeover occurs, then it would be one of the biggest acquisitions in the sector.
Apr 24 2018
Brazilian legend makes massive claim about Madrid interest in Neymar
Barcelona legend Rivaldo believes Neymar has the chance to win the Ballon d'Or if he joins Spanish Giants Real Madrid . Furthermore, the PSG superstar has been linked with many clubs and including Real Madrid and Manchester United.
Apr 23 2018
'Westworld': Who Dies in the Season 2 Premiere?
Did you guys forget about Sizemore? Maeve decides to spare Lee despite his betrayal, as she can use him to help find her daughter. The show touched on these themes a year ago , but now that the android hosts can fight back, the questions are far thornier.
Apr 23 2018
Naked Gunman Kills 4 In Waffle House Shooting, Remains At Large
James Shaw, 29, is hailed as a hero for wrestling the weapon from the gunman, but he says he was "just trying to get myself out". Of the gun, he added: "I grabbed it from him and threw it over the countertop and I just took him with me out the entrance".
Apr 22 2018
Palestinians will seek United Nations probe of Gaza violence
Several regional and worldwide bodies accused the Israeli occupation forces of using lethal forces against unarmed protesters. Friday's demonstration was the fourth in as many weeks of a planned, weeks-long sit-in dubbed the Great March of Return .
Apr 21 2018
E. coli warning expands to all romaine lettuce
Coli from chopped romaine lettuce they bought in various grocery stores, with 31 of those individuals requiring hospitalization. No specific grower, supplier, distributor or brand has been linked to the contaminated lettuce, the CDC said.
Apr 21 2018
Wenger's legacy at Arsenal 'untouchable' - Henry
Sir Alex Ferguson called the Frenchman "without doubt one of the greatest Premier League managers". Arsenal fans have responded to the 29-year-old former Southampton star's tweet .
Apr 20 2018
Embiid not fully cleared but may still play
The pressure appeared to get to the Sixers as they shot 41.7 per cent, down from their 47 per cent during the regular season. What is interesting is that in Game 1, the Sixers had just four fast-break points, compared to 14 for the Heat .
Apr 20 2018
Netanyahu, Rivlin Reflect on Israel's 70th Anniversary in Video Messages
In Israel, people just don't spruik the benefits of research, they don't just talk, they teach a culture of discovery. Israeli warplanes staged aerial displays over Haifa and other major cities.
Apr 20 2018
Jeevitha Rajasekhar press meet, Counter to Sri Reddy and POW Sandhya
Speaking on TV9 news channel, Jeevitha played a controversial video of Reddy raising questions over her credibility. But the ban was lifted after the Natural Human Rights Commission slapped a notice on the Telangana government.
Apr 19 2018
Turkish president calls snap elections for June
The AK Party holds 316 seats in parliament, the CHP holds 131, the MHP holds 36 and the Peoples' Democratic Party (HDP) holds 50. In addition, the president will be able to declare a state of emergency, a power now held by the government.
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