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BRIEF-Takeda to acquire Ariad Pharmaceuticals
January 9, 2017 / 1:14 PM / 8 months ago

BRIEF-Takeda to acquire Ariad Pharmaceuticals

Jan 9 (Reuters) - Ariad Pharmaceuticals Inc

* Ariad Pharmaceuticals Inc - Deal for $24.00 per share in cash, or an enterprise value of approximately $5.2 billion

* Ariad Pharmaceuticals Inc - Deal accretive to Takeda’s underlying core earnings by FY2018 and generates immediate and long-term revenue growth

* Ariad Pharmaceuticals Inc - Transaction has been approved unanimously by boards of directors of both companies

* Takeda to acquire Ariad Pharmaceuticals, Inc.

* Ariad Pharma - Calendar year 2016 revenue guidance for iclusig of $170-180 million, and Takeda expects significant long-term revenue potential from two lead assets

* Ariad Pharmaceuticals Inc - Transaction will be funded by up to $4.0 billion of new debt and remainder from existing cash

* Ariad Pharmaceuticals Inc - Transaction has no impact on Takeda’s dividend policy.

* Ariad - Expected that acquisition of ariad will be accretive to Takeda’s underlying core earnings by FY2018 and broadly neutral in FY2017

* Ariad Pharmaceuticals Inc - At this stage we expect minimal impact on underlying revenue and underlying core earnings from deal

* Ariad Pharmaceuticals - Expect to incur transition and integration expenses with respect to deal; expenses are not material to current year result

* Ariad Pharmaceuticals Inc - Sarissa Capital, holder of 6.6% of Ariad’s common shares agreed to tender shares to Takeda pursuant to offer

* Ariad Pharmaceuticals Inc - Each of members of Ariad’s board of directors have agreed to tender their shares to Takeda pursuant to offer Source text for Eikon: Further company coverage:

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