April 24, 2018 / 11:55 AM / a year ago

Shire receives new bid from Takeda as takeover deadline looms

LONDON, April 24 (Reuters) - British drugmaker Shire said on Tuesday that it had received a new bid from Japan’s Takeda Pharmaceutical, which is racing to agree a deal before a deadline to make an offer expires on Wednesday.

FTSE 100-listed Shire did not give details of the revised bid, which is the fifth from Takeda. It said its board was considering its position.

Takeda’s fourth bid for Shire on Friday was pitched at 47 pounds per share and comprised 26 pounds in Takeda stock and 21 pounds in cash. That valued Shire at 44.3 billion pounds ($61.85 billion).

Under British rules, Takeda has until 5 p.m. (1600 GMT) on Wednesday to make a firm offer or walk away from Shire. That deadline can be extended at the request of Shire.

$1 = 0.7163 pounds Reporting by Ben Martin; editing by Jason Neely

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