A buyout of UK-founded, Ireland-headquartered pharmaceuticals firm Shire by Japan’s Takeda Pharmaceutical was agreed, after the former had rejected a cash and stock offer in mid-April, the BBC reported on 8 May.
The original offer, worth £43bn, would have given Shire shareholders ownership of about half of the new group. However, Shire claimed the offer undervalued the firm and its growth prospects, the report said. The accepted offer involved a £46bn deal. The news of the rejected offer and the continuing talks saw Shire share prices rise over the following days.
Meanwhile, Takeda’s shares tumbled on the Tokyo Stock Exchange, while talk of further offers continued, with the figure increasing each time until the deal with announced.