Deals
Shire Shares Gain After Deal With Takeda Nears Completion
- Drug companies could announce tentative accord on Wednesday
- Talks revolve around improved bid, including cash portion
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Takeda Pharmaceutical Co. is nearing a preliminary agreement to acquire Shire Plc after the Japanese drugmaker sweetened its roughly $60 billion bid for the biotechnology company, according to people with knowledge of the matter.
Shire’s board “is considering its position” on a new bid, the company said in a statement Tuesday after Bloomberg News reported that the companies were nearing a preliminary agreement that could be announced as soon as Tuesday. Shares gained in late trading in New York after Reuters reported that the companies plan to announce a deal on Wednesday.