Takeda lines up Shire takeover bid

Takeda has announced that it is considering making a bid to take over Shire.

The announcement was required under UK takeover rules, although it does not oblige Takeda to proceed with a formal bid at this stage.

Experts have been anticipating a move by a major pharmaceuticals company for Shire following its recent merger with Baxalta, and as a consequence of recent fluctuations in the perceived prospects of its haemophilia products.

Having revealed its hand, Takeda may find itself in a bidding war with rival firms for Shire. Among those speculated to be weighing up an approach are Pfizer and AbbVie, the latter having made an unsuccessful $52 billion (GBP 108 billion) bid in 2014.

One problem for Takeda is that Shire's current market valuation of $46.3 billion is higher than its own ($42 billion), although part of this is due to a 17 percent rise in Shire's share price prompted by news of the prospective takeover bid.

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