Japan's Takeda Pharmaceutical agrees $62 billion takeover of Shire
Takeda expects substantial cost synergies of at least $1.4 billion. Takeda said it intended to maintain its investment grade credit rating with a target of achieving a net debt to EBITDA ratio of 2.0 times or less in the medium term. The tie-up is also one of the largest ever in the pharmaceuticals sector, crowning a hectic few months of deal-making as large players look to improve their pipelines.
Takeda Pharmaceutical agreed to buy London-listed Shire for 45.3 billion pounds ($61.50 billion) on Tuesday after the Japanese company raised the amount of cash in its offer to $30.33 to secure a recommendation. Image source: Reuters