Takeda finally lands Shire for $64 billion in the biggest pharma deal of the year [CNBC]
SHIRE (SHPG)
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Source: CNBC
Dawson | Bloomberg | Getty Images Rare disease specialist Shire said on Wednesday it was willing to recommend a sweetened $64 billion offer from Japan's Takeda Pharmaceutical to shareholders, in what would be the biggest acquisition of a drug company this year. But shares in Takeda extended recent losses, tumbling 7 percent as investors fretted over its ability to buy a company twice its size, raising doubts about whether Shire shareholders will accept a bid that is 56 percent in new Takeda shares. The stock slide — 18 percent since the news of a possible bid broke — makes the cash-and-share deal less appealing to Shire shareholders, some of whom may be reluctant or unable to hold Takeda shares. While this offer represents a solid improvement over Takeda's third bid (38 percent cash), we still wonder if it is enough to satisfy Shire shareholders, said Jefferies analyst David Steinberg. Shire shares slipped 0.8 percent to 39 pounds by 0850 GMT, w
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