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SHPG

Shire

$164.05

3.97 (2.48%)

, TKPYY

Takeda Pharmaceutical

$0.00

(0.00%)

19:15
04/24/18
04/24
19:15
04/24/18
19:15

Shire confirms receipt of revised GBP46B stock and cash proposal from Takeda

The board of Shire (SHPG) announced earlier today that it had received a further revised proposal from Takeda (TKPYY) regarding a possible offer for the Company. The revised proposal comprises 0.839 new Takeda shares and $30.33 in cash for each Shire ordinary share. Based on Takeda's share price of 4,923 and the exchange rates of GBP to USD, the Revised Proposal implies an equivalent value of approximately GBP 49 per Shire ordinary share comprising the equivalent of: GBP 27.26 in new Takeda shares; and GBP 21.75 in cash. On this basis the Revised Proposal is equivalent to a value of approximately GBP 46 billion for the entire issued and to be issued share capital of the company.

SHPG

Shire

$164.05

3.97 (2.48%)

TKPYY

Takeda Pharmaceutical

$0.00

(0.00%)

  • 21

    Dec

SHPG Shire
$164.05

3.97 (2.48%)

04/19/18
04/19/18
NO CHANGE

BTIG says Allergan may be interested in Shire after insufficient Takeda offers
BTIG analyst Timothy Chiang noted that Shire (SHPG) is trading higher after news that at least one other company other than Takeda (TKPYY) is interested in acquiring Shire, and naming Allergan (AGN) as one of those possible suitors. Chiang also believes that other companies, such as Pfizer (PFE), could entering into the bidding for Shire. BTIG maintained a Buy rating and $195 price target on Shire shares.
04/19/18
RILY
04/19/18
NO CHANGE
Target $200
RILY
Buy
Shire price target raised to $200 from $181 at B. Riley FBR
B. Riley FBR analyst David Buck raised his price target for Shire (SHPG) to $200 after the company rejected an approach from Takeda Pharmaceutical (TKPYY) and Allergan confirmed interest in a potential acquisition. The analyst keeps a Buy rating on the shares.
04/19/18
WELS
04/19/18
NO CHANGE
Target $245
WELS
Outperform
Allergan selloff on potential Shire bid understandable, says Wells Fargo
Wells Fargo analyst David Maris believes the selloff today in shares of Allergan (AGN) on news the company is considering a bid for Shire (SHPG) is understandable. Many believe Allergan was in the process of trimming, not bulking up, Maris tells investors in a research note. He believes that if CNBC's subsequent report is true and Allergan won't be making a bid, the "about-face would be an incredible turn given Allergan's press release came out just a couple hours earlier." Further, the analyst thinks investors are now left wondering what type of disruption another major integration could mean for a company that has already had significant organizational change. Maris has an Outperform rating on Allergan with a $245 price target. The stock in afternoon trading is down 4% to $159.36.
04/19/18
WELS
04/19/18
NO CHANGE
WELS
Outperform
Wells says Allergan investors likely 'relieved and confused' by Shire news
Wells Fargo analyst David Maris believes Allergan (AGN) investors will be "both relieved and confused" by the company's announcement that it was considering a bid for Shire (SHPG) being following approximately four hours later by another announcement saying that it does not intend to make an offer for Shire. After catching up with Allergan, Maris does not think the turn of events reflects a confusion or flip-flopping, but rather was the result of disclosures required by UK takeover law, and "don't reflect anything other than Allergan being caught at a bad time." He maintains an Outperform rating on Allergan shares.
TKPYY Takeda Pharmaceutical
$0.00

(0.00%)

03/28/18
BOFA
03/28/18
NO CHANGE
BOFA
Buy
Still considerable value in Shire even in no Takeda bid scenario, says BofA/Merrill
BofA/Merrill analyst Graham Parry notes that Takeda (TKPYY) has said in a statement that it is considering an approach for Shire (SHPG) but that the consideration is at a preliminary and exploratory stage and no approach has been made to the board of Shire. The analyst continues to see considerable value in Shire with concerns over hemophilia more than priced into the stock and upsides from pipeline, notably SHP643 for HAE and SHP647 for Ulcerative colitis and Crohns, and the value of its plasma/immunology franchise overlooked. Even in a no bid scenario, Parry believes passage through hemophilia overhangs and increased awareness of the value in these assets should see Shire trade higher on 12-month view. He reiterates a Buy rating on Shire's shares.
03/29/18
JEFF
03/29/18
NO CHANGE
Target $172
JEFF
Buy
Shire investors may be amenable to $50B-plus bid, says Jefferies
With challenges in the hemophilia market near term, Shire (SHPG) investors could be amenable to another $50B-plus bid, similar to AbbVie's (ABBV) 2014 offer, Jefferies analyst David Steinberg tells investors in a research note. This would represent a 35% premium to Shire's recent near five-year low valuation, the analyst writes. He says "it remains to be seen" how Takeda Pharmaceutical (TKPYY) could structure a transaction for Shire given the companies' similar equity valuations. The analyst finds it possible that Takeda's disclosed interest could spark competitive bids from large cap pharma companies. He keeps a Buy rating on Shire with a $172 price target.

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