Takeda acquires Shire for $62 bn

Takeda Pharmaceutical agreed to buy London-listed Shire for £45.3 billion ($61.50 billion) on Tuesday after the Japanese company raised the amount of cash in its offer to secure a recommendation.

The final deal is approximately 46 per cent cash and 54 per cent stock, leaving Shire shareholders owning around half of the combined group.

The deal — assuming it wins the backing of shareholders — will be the largest overseas acquisition by a Japanese company and propel Takeda, led by Frenchman Christophe Weber, into the top ranks of global drugmakers.

The tie-up is one of the largest ever in the pharmaceuticals sector, crowning a hectic few months of deal-making as big drugmakers look to improve their pipelines by bringing in promising medicines developed by younger companies.

The enlarged group will be a leader in treatments in gastroenterology, neuroscience, oncology, rare diseases and blood-derived therapies. The deal came on the last day for Takeda to make a firm bid.

Shire had rejected four previous offers, due to price concerns among others.

Shire investors will receive $30.33 in cash and either 0.839 new Takeda shares or 1.678 Takeda American depositary shares for each share, the companies said valuing the offer at 48.17 pounds a share based on the latest price and exchange rate.