Mum On Takeda, Shire Outlines Two-Division Performance

26 Apr 2018

Before the March 28 announcement of Takeda’s interest in buying Shire, the focus of Shire’s first quarter earnings call was expected to be the initial reporting of financial results for rare disease and neuroscience as separate units. Sales for the former grew, but declined for the latter.

The possible acquisition by Takeda Pharmaceutical Co. Ltd. was top of mind for everyone involved in Shire PLC’s first quarter 2018 earnings call April 26, but under UK takeover law the company could not discuss the situation, although that didn't stop one analyst from asking CEO Flemming Ornskov how shareholders feel about the possible buyout.

Since first publicly disclosing its interest in acquiring Shire on March 28, Takeda has made five offers, increasing incrementally from £44 to £49 per share (about $64.3bn in aggregate) as of April 24, which Shire said it would take to its shareholders. (Also see "Takeda Closes In On Shire With Revised £49/Share Offer" - Scrip, 25 April, 2018

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