Economy

Shire Accepts Improved $62B Bid From Takeda

Shire Accepts Improved $62B Bid From Takeda

It's one of the biggest pharma deals in history, and the largest-ever worldwide takeover by any Japanese company, at a value of $62 billion.

The deal should help Takeda pivot away from its home base to more lucrative markets like the USA and Europe, and add new drugs to its shrinking pool of patent-protected products.

The deal will catapult Takeda to eighth rank among the top 10 in the global pharmaceutical industry.

Mets trade Matt Harvey to the Reds for catcher Devin Mesoraco
It didn't work at all, so they chose to get Harvey for a catcher who had lost his starting job and can become a free agent after the season.

That's a 60 percent premium to the price before Takeda first said it wanted to take over Shire, on March 28.

Susan Kilsby, chairwoman of Shire, said the takeover of her company - which is best known as the maker of Adderall, a treatment for ADHD, but has become one of the world's biggest makers of medicines for rare diseases - is in the best interest of shareholders.

Under the cash and stock agreement, Osaka, Japan-based Takeda will pay $30.33 in cash for each share of Shire (NASDAQ: SHPG).

DeMar DeRozan: Maybe Cleveland Just Has Our Number
The Cavaliers now find themselves just four wins away from punching their ticket to a fourth consecutive NBA Finals appearance. The on-court leader of the Raptors was big for them when it mattered in Round 1 but that didn't translate to this series.

Some analysts have suggested Takeda could sell off certain Shire businesses to make the deal more manageable but Weber said gastroenterology, neuroscience, oncology, rare diseases and blood products were all important areas to be retained. Previous year it bought Ariad Pharmaceuticals of Cambridge, Massachusetts.

According to Takeda, the transaction brings together companies' "complementary positions" in gastroenterology (GI) and neuroscience and positions the new entity to lead in rare diseases and plasma-derived therapies "to complement strength in oncology and focused efforts in vaccines". The deal is expected to close sometime in the first quarter of 2019, pending review by regulators in a number of countries including the U.S., EU, Japan and China.

Takeda announced the news today, May 8. To pay for the acquisition, Takeda entered into a bridge credit agreement - a type of loan - for $30.85 billion. Takeda's stock is down 25% in a little more than two months as investors fretted over how this would play out if the smaller Japanese company prevailed. The companies have projected job cuts of 6 to 7 percent.

To extensively screen royal wedding
There are cocktails in teacups and guests wearing fascinators - no, the royal wedding has not been brought forward. The moments that left the monarchy red faced, from Prince George , Prince Harry and little Princess Charlotte .

The companies have agreed that up to three Shire directors will join the board once the acquisition is completed. Takeda made four other bids over the past five weeks, all of which were rejected outright by Shire. "That's where you could have some portfolio assessment and potentially some disposals".