Takeda takesover Adderall maker Shire for £46bn
Takeda takesover Adderall maker Shire for £46bn
Maker,Shire of treatments for ADHD & rare diseases,agreed a £46bn bid from Japan’s Takeda.Takeda got approval from Shire board by raising amount of cash in its offer to $30.33(£22.43).Shire shareholders will get 0.839 new Takeda shares for each share.Offer is worth £49.01/share.Deal sees interest of shareholders & will improve lives of more patients globally with rare & specialized conditions.Will give Takeda Shire’s lucrative rare diseases portfolio & £1bn in cost savings.
London-listed maker,Shire of treatments for ADHD and rare diseases, agreed a £46bn bid from Japan’s Takeda, in the biggest deal in the pharmaceutical sector since 2000.Takeda secured a recommendation from the Shire board by raising the amount of cash in its offer to $30.33 (£22.43). Shire shareholders will also receive 0.839 new Takeda shares for each share. The offer is worth £49.01 a share, about £5 more than Takeda's initial bid in late March,after being refused four times.
It came as Virgin Money, backed by Sir Richard Branson, said it was reviewing an all-share takeover approach worth £1.6bn from CYBG, the owner of Clydesdale and Yorkshire Bank. A deal would bring together two of Britain’s biggest challenger banks.
FTSE 100-listed company's shares rose by 5% to £40.77, but remain well below the offer price, indicating that Shire shareholders have reservations about the deal.
The deal has good interest of shareholders and will improve the lives of even more patients globally with rare and highly specialized conditions.
After the approval by shareholders of both companies, Shire investors will own about half of the combined group, which will be listed on the Tokyo stock exchange. Takeda board will have three Shire Directors.
This is the biggest deal, for overseas acquisition by a Japanese company, will give Takeda Shire’s lucrative rare diseases portfolio. It will save minimum of £1bn in cost savings.
43% amount will come from combining the two firms’ research and development operations, balance amount from doing away with duplicate IT procedures, manufacturing and supply. Ref. : https://www.theguardian.com/business/2018/may/08/adderall-shire-takeover-takeda-virgin-money --- Dated: May'08,2018.
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