Senate Votes To Reinstate Obama-Era Net Neutrality Rules
Rupert Murdoch's son Lachlan to become Fox CEO after Disney deal
Karnal firm cheats PSU bank of Rs 155 crore
Bitcoin falls after billionaires Bill Gates and Warren Buffett say this
NEET: Travel, lodging support pours in for Tamil Nadu students
Shire (SHP) Receives "Hold" Rating from Liberum Capital
25 April 2018, 02:15 | Vera Richards
Shire shares rise as it unilaterally announces Takeda's sweetened deal
- Satisfactory completion of a confirmatory due diligence review by Takeda.
The development, first reported by Reuters earlier on Tuesday, represents a major breakthrough for the companies in their negotiations, following a pursuit that started on March 28 when Takeda said it was considering a bid for Shire.
Last Friday, Takeda had lifted its cash and stock bid to the equivalent of £47 per share.
Shire shares surged as much as 6.2 percent in London, valuing the company at about $52 billion.
Shire and Takeda plan to announce a preliminary deal.
Based on the latest 2017Q4 regulatory filing with the SEC, James Dinan reduced its stake in Shire Plc (SHPG) by 10.32%.
The fifth offer is worth 49.01 pounds per share, comprised of 27.26 pounds per share in new Takeda shares and 21.75 pounds per share in cash. That's a 60 percent premium to Shire's closing price on March 27, before Takeda disclosed its interest in the US drugmaker. Royal Bank of Canada set a $192.00 target price on Shire and gave the stock a "buy" rating in a report on Monday, February 5th.
It would significantly boost Takeda's position in gastrointestinal disorders, neuroscience, and rare diseases, including a blockbuster hemophilia franchise.
Takeda has been expanding its takeover ambitions under Chief Executive Officer Christophe Weber, seeking growth overseas amid patent expirations and a shrinking domestic population. This is also the first time that Shire's board suggested a willingness to recommend any of the recent proposals. Shore Capital reiterated a buy rating and issued a GBX 3,607 ($50.31) price objective on shares of Shire in a report on Monday, April 16th.
Moody's said the deal would pile up debt and hit Takeda's credit ratings.
We've seen big pharmaceutical deals over the past few years, Pfizer and Wyeth in 2009, Glaxo and SmithKline on 2000, Bayer and Monsanto, in 2016, but this morning's announcement that Shire has formally agreed to consider a preliminary approach from Takeda is up there with the largest deals, only dwarfed by an all USA deal in 1999 between Pfizer and Warner Lambert. Talks may still be delayed or fall apart, they said.
Cosby Accuser Wished Rape Cost at Memoir, Publisher Says
Jackson said the statements are the same, but a person on Cosby's first legal team may not have written down all the information. If convicted, Cosby could get up to 10 years in prison on each of three charges of aggravated indecent assault against Constand.
Bruins strike early and have Leafs on the brink
Kadri said his teammates know he was just trying to protect one of their own on the play. "It's exciting to get back in", he said. Kadri, who has three previous suspensions, doesn't exactly agree with that assessment. "Was it worthy of a suspension?" "I was.
Former Harbor Hawk star Manaea no-hits Red Sox
After Jed Lowrie struck out for the third time, Davis lined the first pitch into the seats in left field for his sixth home run. But they couldn't do any more damage. "It's a lot of momentum, a lot of confidence building", third baseman Matt Chapman said.
Trump attacks Comey for supporting McCabe
That was one of four times that McCabe "lacked candor" in talking about the story, the report said. Though the statement or suggestion was not under oath , it still got McCabe in trouble.
Meghan Markle was meant to be royal: Paula Patton
Prince Harry's fiancée, 36, is expected to have a "traditional and elegant" wedding gown and a second more glamorous number. Her Suits character Rachel Zane is finally walking down the aisle to marry her on-screen fiancé Mike (Patrick J.
Scientists discover new species of exploding ant
Being a "model species" means that the ant will serve as an important navigation point in future studies on exploding ants. The major workers of the Colobopsis explodens tribe have enlarged heads used to plug nest entrances to keep out invaders.
Inflation dips to 2.47 per cent in March
On the basis of the Wholesale Price Index, inflation had quickened to 2.48% in February and to 5.11% in March past year . Retail inflation also slipped to a five-month low of 4.28 per cent in March on account of decline in food prices.