Drugmaker Takeda shares tumble as company considers bid for Shire
Takeda Pharmaceutical shares sank 5 percent early on Thursday, a day after Japan`s largest drugmaker said it was considering a bid for London-listed rare disease specialist Shire
Shares in Takeda fell more than 5 percent in early morning trade, sharply underperforming the broader Tokyo market <.topx>, which was slightly higher.
Takeda said on Wednesday it was "at a preliminary and exploratory stage" of considering a bid that could spark another takeover battle in the deal-hungry pharma industry. Shire`s shares ended 15.7 percent higher, valuing the group at around 32 billion pounds ($45 billion).
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.