Shire Rejects $60 Billion Bid From Takeda

A worker packed drugs at Takeda in Oranienburg Germany

They also said there were concerns over whether Takeda may end up overpaying - an accusation frequently leveled at Japanese firms investing overseas.

Botox-maker Allergan confirmed on Thursday it was considering an offer for Shire after Reuters reported on its interest, sending its shares down 7 percent.

But a statement released on Thursday evening confirmed that the company had backtracked on its interest for shire.

Allergan and Shire are headquartered in Dublin for tax purposes. The shareholders were anxious and concerned about the company's overstretching of its resources. Since then, Takeda has made three bids on Shire. The firm has said it could become acquisitive and is looking at strategic options. $48.04 billion is the MC of Shire Plc.

The planned bid would strengthen Takeda's global position in drugs to fight cancer and combat gastrointestinal and nervous-system diseases, Takeda said at the time. Shire said that valued it at approximately 44 billion pounds ($62.6 billion), based on total issued and to be issued share capital. The company's neuro focus and Shire's recent entrance into the eye care business are major areas of overlap, but there are also some synergies in gastroenterology.

Other cross-border deals chased down by the Frenchman include the $5.20 billion acquisition of USA cancer drug maker Ariad Pharmaceuticals Inc past year, as well as the purchase of Belgian biotech group TiGenix NV announced in January.

Research analysts at Main First Bank assumed coverage on shares of Shire (LON:SHP) in a research note issued on Wednesday, March 28th.

FILE PHOTO: Vitamins made by Shire are displayed at a chemist's in northwest London, Britain, July 11, 2014. Takeda said talks were continuing.

Japanese pharmaceutical company Takeda took a fourth try at buying Shire on Friday, less than 24 hours after a potential rival bidder ruled itself out of a tug-of-war for the biotech firm.

Takeda-Shire transaction would be by far the biggest.

Based on Takeda's current market value, Shire shareholders would own approximately 49 percent of the enlarged company should the latest proposal be accepted.

The firm has emerged as a takeover target after a string of acquisitions, including a $32 billion merger with rare disease firm Baxalta in 2016, have proved unpopular with investors. Shire is whereas considered as the leader of hyperactivity. The stock decreased 1.11% or $1.8 during the last trading session, hitting $160.74.Shire plc has 9.55M shares volume, 627.51% up from normal.

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