Takeda Pharmaceutical acquires London-listed Shire for $62 bn

09 May, 2018, 06:09 | Author: Terri Saunders
  • Takeda Pharma offers $62 billion in takeover of Britain's Shire

The acquisition will create a combined company to be half owned by Shire shareholders upon completion of the deal, which is subject to approval by shareholders of both companies and expected to close in the first half of 2019. That is about $66.22 per share, made up of $30.33 per share in cash and 0.839 shares of Takeda stock.

In a separate statement, Takeda said it would fund the deal with a bridge loan facility of almost US$31 billion.

Takeda's financial advisers included Evercore, JPMorgan Chase and Nomura Holdings, while Shire received financial advice from Citigroup, Morgan Stanley and Goldman Sachs Group.

Shire has offered Takeda a large presence in the US and an expertise in the rare diseses.

Takeda had raised its bids over a six-week chase and agreed on a 60% premium to Shire's closing price on March 27, before Takeda disclosed its interest. Takeda has revealed it expects pre-tax cost synergies to reach $1.4bn after three years, mostly stemming from the integration of redundant infrastructure within the two companies. It will be listed on the Tokyo stock exchange.

Takeda has been conducting due diligence for the past two weeks, but Shire had rejected its offer four times on price disagreement and also because it wanted more in cash and less in stock. While some of them do not want to hold Takeda paper, Weber told reporters he believed investors would back the transaction.

What Will Become of Valeant Pharmaceuticals?
Valeant Pharmaceuticals International (NYSE: VRX ) (TSE: VRX ) last posted its earnings results on Wednesday, February 28th. After this purchase, 106,062 common shares of VRX are directly owned by the insider, with total stake valued at $1,926,086.

Jobs will go, with the group's combined 52,000 workforce likely to be reduced by 6-7 percent.

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

Weber became Takeda's first non-Japanese CEO in 2015 and has been hunting for acquisitions to make the company more global and reduce its exposure to a mature Japanese pharmaceutical market.

Takeda will become the only pharma company with dual listings in Tokyo and NY. A Shire takeover brings Takeda treatments for rare diseases such as hemophilia - a field that's luring a growing number of drugmakers that can charge more for unique life-saving drugs than for routine treatment.

However, Takeda's research and development hub will stay in Boston, she said. Another 20 percent will be in Japan and about 30 percent will be in other countries, she said. Takeda's main areas of focus moving forward will be neuroscience, oncology, gastroenterology and vaccines. Takeda's largest previous purchase was a $13.7 billion takeover of Nycomed in 2011.

Last year, Shire leased space in the former Bank of Ireland headquarters, on Baggot Street in Dublin and said it would boost staff numbers here to 300.



Braden Holtby: Impressive effort as Capitals advance
Four times previously during the Ovechkin Era the Capitals won three games in the second round only to come up short in Game 7. NOTES: The Capitals have now killed 22 consecutive penalties dating to Game 2 of their first-round series against Columbus.

Google wants to use AR to make walking navigation easier in Maps
New Google Lens features will be implemented on devices from 11 Android OEMs, including the LG G7 ThinQ , in just weeks. Once you've reached a decision together, you can use Maps to book a reservation and find a ride to get to the place.

Yemen rebel TV says 6 killed in Sanaa airstrike
Launched from within the territory of Yemen, north of Amran governorate, the missiles were intercepted at 8.47pm, Saudi Press Agency reported .

The plane had to land in Florida due to the cracked glass
The incident comes days after a Southwest plane with a broken window was forced to make an emergency landing in Cleveland, Ohio. The plane made an emergency landing and Riordan was rushed to hospital, but she later died form her extensive injuries.

Uber Flying Taxi Launch Only 2 Years Away, Company Says
Khosrowshahi admitted the concept is a "big, bold bet" on " CBS This Morning ", but says big bold bets are what built Uber. The Uber VTOL vehicles will be quieter than a helicopter and will create half the noise of a truck, CNBC said.

Meet the first Irishman to play in Major League Baseball in 73 years
Mesoraco is batting.220 in 18 games with one homer and three RBIs, playing a backup role to Gold Glove victor Tucker Barnhart . The two former All-Stars could each use fresh starts with teams in desperate need of help at their respective positions.

Twitter reacts ruthlessly to Raptors being swept by the Cleveland LeBrons
It reached the Eastern Conference finals in 2015-16 and has fallen in the second round each of the last two seasons. The Cavs didn't stumble and had one of their best all-around games of these playoffs after so many tight ones.

Cate Blanchett on why #MeToo will take time to transform Hollywood
Positive change is already occurring, Blanchett said, noting that there are now more women selecting films for Cannes. Juries, she noted, have in recent years been split equally, with the president tilting the scales.

United Kingdom lawmakers vote to strike Brexit date from bill
Not every Labour peer was behind the legislation change, as former minister Andrew Adonis described the amendment as "useless". Government ministers have accused peers of attempting to "thwart" the country's departure from the EU.

Coal mining fatalities on the rise
Most of the miners came from the same village in Khyber Pakhtunkhwa's Shangla district, officials told Pakistan's Dawn newspaper. The Pakistan Central Mines Labour Federation says that up to 200 mine workers die on average in mine accidents every year.