Takeda Confirms Revised Takeover Proposal For Shire

(RTTNews) - Takeda Pharmaceutical Co. Ltd. (TKPYY.PK) confirmed Tuesday that it has made a revised proposal to the Board of Shire plc (SHP.L, SHPG).

Takeda said there can be no certainty that any firm offer for the Company will be made nor as to the terms on which any firm offer might be made.

Earlier today, Shire said it has received a fifth takeover proposal from Takeda.

Shire didn't disclose the financial terms of Tuesday's proposal but said it is considering its position.

Takeda made a takeover proposal for Shire on April 20 of 47 pounds per share, valuing the Dublin-based company at 42.83 billion pounds or $60.3 billion, including 21 pounds per share in cash and 26 pounds per share in equity.

As per the U.K. rules, Takeda has until Wednesday to make a firm offer or walk away from Shire.