Takeda in unsuccessful $60bn bid for drugmaker Shire

Japanese drugs giant Takeda said Thursday it had made a $60-billion takeover bid for Irish peer Shire but its offer was rejected.

“Takeda notes recent press speculation regarding Shire plc 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,” the Japanese firm said in a statement.

“Takeda was subsequently notified that the board of Shire had rejected its proposal. Discussions between the parties regarding a potential offer are ongoing.”

Takeda’s latest cash-and-shares offer was pitched at the equivalent of £46.50 per share, valuing Shire at £42 billion.

Shire said in a separate statement that it had rejected a total of three proposals from Takeda, including the latest approach that was confirmed on Thursday.

The pharmaceuticals group, based in Ireland but listed in London, added that its advisers have entered a dialogue with Takeda to discuss “whether a further, more attractive, proposal may be forthcoming”.

Shire shares had soared by almost eight percent on the London Stock Exchange when rumours of the deal emerged earlier Thursday.

In mid-afternoon deals they pared gains to stand at £38.44, up 2.4 percent from Wednesday’s closing level.(AFP)