Takeda’s acquisition of Shire is Japan’s biggest-ever foreign takeover

AS BEFITS A deal in the medical industry, this one has been rather hard to swallow. But on December 5th, eight months after Takeda, Japan’s largest pharmaceutical firm, said it was interested in buying Shire, an Irish-headquartered drugmaker of a similar size, shareholders at last voted to approve the acquisition. The purchase will cost Takeda $56bn in cash and new shares. Since the initial news of the deal the firm’s share price has fallen by 25%.

Takeda’s acquisition is unusual. It is by far the largest foreign buy-out ever executed by a Japanese firm (even though the country’s outbound merger-and-acquisition activity is surging). Nor was Shire considered a likely target. Acquiring firms usually seek new technologies or overlaps that allow cost-cutting. Shire does have a strong pipeline of new molecules, but the portfolio did not complement any large drugmakers’ existing suite of drugs, including that of Takeda....

via Business Feeds

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