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Shire Plc. announced that its acquisition by Japan-based Takeda Pharmaceuticals for $62 billion has been approved by its shareholders. Earlier the same day, Takeda’s shareholders also gave a green signal to the proposed merger. The acquisition is now expected to close on Jan 8, 2019.
Takeda stated that at least 88% of shareholders had voted to approve the acquisition at a shareholder meeting held in Osaka, Japan. Shire also announced that its shareholders too backed the deal and had voted overwhelmingly to approve the acquisition.
Shire’s share price has increased 11.4% year to date against the industry’s decline of 9.4%.
The Takeda/Shire merger deal was announced in May this year when Shire accepted the buyout offer from Takeda, valuing the company at 47 pounds per share or around 46 billion pounds ($62 billion) in total. Takeda offered to pay 0.839 new Takeda shares or 1.678 Takeda ADSs (valued at 27.26 pounds) and $30.33 (21.75 pounds) in cash against each ordinary share of Shire.
We remind investors that Takeda had made the offer four times, which were turned down by Shire before accepting the final offer of around 46 billion pounds.
Shire has become the global leader in treating rare diseases and delivering innovative products that transform patients’ lives. With this combination, Shire will help create an even stronger biopharmaceutical company, with a robust research and development (R&D) pipeline and expanded global footprint.
The acquisition of Shire will accelerate Takeda’s transformation by bringing together Takeda and Shire’s complementary positions in gastroenterology (GI) and neuroscience. It will also provide the combined group with leading positions in rare diseases, oncology and plasma-derived therapies.
We note that botox maker Allergan Plc. was also considering to make an offer to buy Shire.
Demand for companies with rare disease drugs or immuno-oncology treatments in their product portfolio are rising. This is evident from the billion-dollar deals signed this year. Biomarin Pharmaceutical Inc. (BMRN - Free Report) , Incyte Corporation (INCY - Free Report) , and Alexion are a few stocks, which look attractive to be bought by big pharma companies next year.
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Image: Bigstock
Shire (SHPG), Takeda Shareholders Approve $62 Billion Merger
Shire Plc. announced that its acquisition by Japan-based Takeda Pharmaceuticals for $62 billion has been approved by its shareholders. Earlier the same day, Takeda’s shareholders also gave a green signal to the proposed merger. The acquisition is now expected to close on Jan 8, 2019.
Takeda stated that at least 88% of shareholders had voted to approve the acquisition at a shareholder meeting held in Osaka, Japan. Shire also announced that its shareholders too backed the deal and had voted overwhelmingly to approve the acquisition.
Shire’s share price has increased 11.4% year to date against the industry’s decline of 9.4%.
The Takeda/Shire merger deal was announced in May this year when Shire accepted the buyout offer from Takeda, valuing the company at 47 pounds per share or around 46 billion pounds ($62 billion) in total. Takeda offered to pay 0.839 new Takeda shares or 1.678 Takeda ADSs (valued at 27.26 pounds) and $30.33 (21.75 pounds) in cash against each ordinary share of Shire.
We remind investors that Takeda had made the offer four times, which were turned down by Shire before accepting the final offer of around 46 billion pounds.
Shire has become the global leader in treating rare diseases and delivering innovative products that transform patients’ lives. With this combination, Shire will help create an even stronger biopharmaceutical company, with a robust research and development (R&D) pipeline and expanded global footprint.
The acquisition of Shire will accelerate Takeda’s transformation by bringing together Takeda and Shire’s complementary positions in gastroenterology (GI) and neuroscience. It will also provide the combined group with leading positions in rare diseases, oncology and plasma-derived therapies.
We note that botox maker Allergan Plc. was also considering to make an offer to buy Shire.
Demand for companies with rare disease drugs or immuno-oncology treatments in their product portfolio are rising. This is evident from the billion-dollar deals signed this year. Biomarin Pharmaceutical Inc. (BMRN - Free Report) , Incyte Corporation (INCY - Free Report) , and Alexion are a few stocks, which look attractive to be bought by big pharma companies next year.
Shire plc Price
Shire plc Price | Shire plc Quote
Zacks Rank
Shire currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>