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Shire recommends Takeda’s offer

After six weeks of courtship the Japanese company has finally got its target’s management on board
Shire recommends Takeda’s offer

Shire’s (SHP) board has finally agreed to Takeda’s (JP:4502) takeover, after six weeks and five separate bids. Under the terms of the offer, current Shire shareholders will receive $30.33 (£22.34) and either 0.839 new Takeda shares or 1.678 Takeda American Depository Shares. With a total value of £46bn, the offer is a comfortable premium to the closing market capitalisation on the day prior to Takeda’s first proposal.

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