Shire and Takeda come to terms with a $64B deal, the biggest pharma M&A in years
After a fifth buyout offer from Takeda, Shire said they finally had a proposal worth recommending to shareholders – a cash-and-stock bid worth about $64B, around $4B more than its first offer.
The deal still has to be approved by both boards and is subject to due diligence. The U.K.’s takeover board extended a deadline to give the companies until May 8 to complete it.
Bernstein analyst Ronny Gal said the deal seems to be more of a merger. Shire shareholders will receive 50% of the value of the combined company, and the companies will do reciprocal due diligence before any deal closes.
