But its shares jump
Shares in London-listed drugmaker Shire have soared today after reports that it has rejected a £42.4bn ($60bn) takeover offer from Japan’s Takeda. However,it remains in talks “whether a further, more attractive, proposal may be forthcoming.”
In a separate statement, Shire said it had rejected three conditional proposals by the Japanese firm, with the first worth about £41bn on 29 March.
Shire’s board has unanimously rejected all three approaches because the offers significantly undervalued the company and its growth prospects.
In another related news, Botox maker Allergan Plc has also jumped in the race and is reportedly in talks to acquire the drugmaker, two sources familiar with the matter stold Reuters.
It is not clear whether Allergan has submitted an offer, and there is no certainty of a bid, the sources said.