Shire announces revised proposal and extension of PUSU deadline to 8 May 2018

- April 25th, 2018

The Board of Shire announced earlier today that it had received a further revised proposal from Takeda Pharmaceutical regarding a possible offer for the Company. The revised proposal comprises 0.839 new Takeda shares and US$30.33 in cash for each Shire ordinary share. As quoted in the press release: On this basis the Revised Proposal is equivalent … Continued

The Board of Shire announced earlier today that it had received a further revised proposal from Takeda Pharmaceutical regarding a possible offer for the Company. The revised proposal comprises 0.839 new Takeda shares and US$30.33 in cash for each Shire ordinary share.

As quoted in the press release:

On this basis the Revised Proposal is equivalent to a value of approximately £46 billion for the entire issued and to be issued share capital of the Company. Shire shareholders would also be entitled to any dividends announced, declared, made or paid by Shire in the ordinary course prior to completion of the possible transaction.

At completion, Shire shareholders would own approximately 50 per cent. of the enlarged Takeda and the new Takeda shares will be listed in Japan and in the US through an ADR program.

The Board has indicated to Takeda that it would be willing to recommend the Revised Proposal to Shire shareholders subject to satisfactory resolution of the other terms of the possible offer, including completion of reciprocal due diligence by Shire on Takeda. Accordingly, the Board will engage in discussions with Takeda in relation to these terms.

Click here to read the full press release.

 

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