Shire Plc spurned a takeover offer of about $ 60 billion from Takeda Pharmaceutical Co., the the Japanese Japanese Japanese Japanese Japanese Japanese Japanese sides sides sides sides sides sides……….
Takeda offered 46.50 pounds ($ 66.1
Christophe Weber, chief executive officer, is looking for a way to improve his business strategy shrinking domestic population.
"Takeda and its board reiterate that it will remain disciplined with respect to the terms of any such offer, "the company's statement said. Takeda suggested it would not go hostile, instead of using the unanimous backing of Shire's board.
Flushing Out Bidders
The bid is a 51 percent premium to Shire's closing price on March 27, the day before Takeda confirmed its interest. Shares of Lexington, Massachusetts-based Shire surged as much as 12 percent in London, where they're listed.
"We think that Takeda's recently expressed interest in Shire may flush out other potential bidders, most likely among the United States." pharma heavyweights including Pfizer, Amgen and AbbVie, "analysts at United First Partners said in a note.
The offer, made on April 12, comes with a flurry of transactions in the pharmaceutical sector, marked by GlaxoSmithKline Plc's $ 13 billion agreement to buy out Novartis AG's stake in the two companies' consumer-health joint venture.
Just this week, Merck KGaA has agreed to sell its over-the-counter unit to Procter & Gamble Co. for $ 4.2 billion, Sanofi said it would sell its European generic-drug business to buy out firm Advent International Corp. France's Servier SAS for $ 2.4 billion.
Takeda's largest purchase date is a $ 13.7 billion takeover of Nycomed A / S in 2011. Last year, the company expanded its footprint in the US oncology market with the $ 4.7 billion purchase of Ariad Pharmaceuticals Inc.
"Where there's a will there's a way," said John Schroer, sector head of U.S. Health care at Allianz Global Investors. But they're going to require a tremendous amount of leverage. "
Under U.K. takeover rules, Takeda faced on April 25 deadline to make a bid or walk away. With a market value of about $ 38 billion, the Japanese company is smaller than the target.
– With assistance by Cynthia Koons