Takeover is set to come into effect in the first half of 2019
Japan’s Takeda Pharmaceutical has agreed to buy London-listed Shire, the rare diseases specialist, for £45.3bn.
Shire investors will receive $30.33 in cash and either 0.839 new Takeda shares or 1.678 Takeda ADSs for each share, the companies said, valuing the offer at £48.17 a share based on the latest price and exchange rate.
Shire chief executive Flemming Ornskov said: “I would like to thank the entire Shire team for all that we have accomplished over the last five years to transform Shire into the leading rare disease biotech company and a tenacious champion for patients in need.
“I am confident that this relentless focus will enable us to continue delivering against our priorities throughout this process.
“With a truly innovative portfolio and pipeline, I believe that the combination of the two companies is in the best interests of shareholders and offers an opportunity to improve the lives of even more patients globally with rare and highly specialised conditions.”
The takeover is set to come into effect in the first half of 2019.
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