Shire Rejects Multiple Equity-Loaded Takeda Offers, Allergan Declines To Bid

Takeda's most recent offer for Shire had an estimated total value of $61bn, but likely included too much equity and too little cash. The companies continue negotiating as an April 25 deadline looms, while Allergan stated it won't bid for Shire.

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Takeda Pharmaceutical Co. Ltd.'s interest in acquiring Shire PLC persists despite the latter's sell-off of its cancer business earlier this week, but the Japanese pharma simply may lack the cash to structure a buyout offer that will be acceptable to Shire's board and shareholders.

Both companies confirmed April 19 that discussions around a Takeda/Shire combination continue, with an April 25 deadline at noon London...

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