Saturday 21 July 2018

Japan's Takeda agrees £46bn takeover of Irish-based Shire

Takeda Pharmaceutical’s Tokyo office in Japan. Photo: Getty Images
Takeda Pharmaceutical’s Tokyo office in Japan. Photo: Getty Images
Independent.ie Business Desk

Japanese pharmaceutical firm Takeda has confirmed that it has reached a takeover agreement with Shire, valuing the business at £46bn (€52bn).

The boards of both firms have finally agreed on the terms of the deal, settling on an offer of £49.01 per Shire share.

Takeda said it represents a premium of around 64pc compared to the price of its shares in late March, when rumours of Takeda's interest began to swirl.

It ends weeks of wrangling, with a string of previous offers having been rejected by the Irish firm that is listed in London.

Shire chairman Susan Kilsby said: "We firmly believe that this combination recognises the strong growth potential of our leading products and innovative pipeline and is in the best interests of our shareholders, our patients and the communities we serve."

Takeda has agreed that up to three Shire directors will join the company's board once the acquisition is completed.

The takeover is set to come into effect in the first half of 2019.

Press Association

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