Shire Says It's Willing To Entertain $64 Billion Bid From Takeda Pharma

Shire (SHPG) said late Tuesday it's willing to recommend a $64 billion takeover by Takeda Pharmaceuticals to shareholders and will give the Japanese drugmaker until May 8 to wrap up due diligence.

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The newest offer values Shire at 49 pounds per share, roughly $68.30. This is up from Takeda's fourth bid on April 20, which was at 47 pounds, or about $65.60. Takeda is proposing 0.839 new Takeda shares and $30.33 in cash for each ordinary share of Shire.

"The board has indicated to Takeda...

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