The Board of Shire announced earlier today that it had received a further revised proposal from Takeda Pharmaceutical Company Limited
- regarding a possible offer for the Company
- The Board has indicated to Takeda that it would be willing to recommend the Revised Proposal to Shire shareholders subject to satisfactory resolution of the other terms of the possible offer, including completion of reciprocal due diligence by Shire on Takeda. Accordingly, the Board will engage in discussions with Takeda in relation to these terms.
GBP positive news as far as it goes. Still negotiation to be done, but Shire's Board saying its willing to recommend the bid subject to various conditions etc.
More:
- extension of PUSU deadline to May 8th
- revised proposal worth around 46bn GBP
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background:
- Japan's Takeda Pharmaceutical bid for Shire (Pharma firm also), a member of Britain's FTSE 100 stock index
