On Thursday, Shire confirmed it had received three conditional acquisition proposals from the Japanese firm Takeda – the most recent for approximately £44bn ($61bn).
Shire has rejected all three, saying the offers “significantly undervalue” the firm, its growth prospects, and pipeline, though Takeda said discussions between the parties are ongoing.
Jefferies’ analyst David Steinberg said it is likely Takeda will come back with another offer.
“There is likely a price close to the third Takeda bid ($198/ADR) many SHPG [Shire] shareholders favour but arguably the cash component needs to be higher,” he said.
Last month, Takeda said the potential merger would enhance its R&D strategy, reinforce its pipeline, and improve its geographic focus to align with market opportunity in the US.
Allergen considers buy
Allergan announced on Thursday that it was in the ‘early stages’ of considering a possible acquisition offer for Shire.
But, later that same day, said it did not intend to make an offer.
As in-PharmaTechnologist previous reported, Shire has sold its oncology business to French firm Servier to better align its long-term strategy.
