Shire board rejects Takeda's revised GBP 46.50 /share offer
19 APR 2018
Takeda Pharmaceutical Company Limited ("Takeda") [TYO:4502] notes recent press speculation regarding Shire plc("Shire") [LON:SHP] and confirms that on April 12 it made a revised proposal to the Board of Shire to acquire the entire issued and to be issued share capital of Shire for a price equivalent to GBP 46.50 per share, comprised of GBP 17.75 in cash (to be paid in US$) and GBP 28.75 of new Takeda shares.
Takeda was subsequently notified that the Board of Shire had rejected its proposal. Discussions between the parties regarding a potential offer are ongoing.
Takeda and its Board reiterate that it will remain disciplined with respect to the terms of any such offer. As previously stated, Takeda intends to maintain its well-established dividend policy and investment grade credit rating.
Building on Takeda's existing momentum, the acquisition of Shire would accelerate its transformation and result in a global, value-based, R&D-driven biopharmaceutical leader headquartered in Japan, with a balanced geographic footprint, a robust, modality-diverse pipeline and enhanced financial strength.
Irrespective of the outcome of discussions between the two parties, Takeda remains well-positioned to continue its transformation, delivering portfolio growth while strengthening its pipeline and boosting profitability.