Shire rejects third Takeda bid, mulling fourth

Shire plc (LSE:SHP; NASDAQ:SHPG) said April 19 its board had unanimously rejected three separate takeout offers from Takeda Pharmaceutical Co. Ltd. (Tokyo:4502), culminating at the most recent bid valued at £44 billion ($62.7 billion) in which Shire would own 51% of the enlarged Takeda.

On April 20, Shire acknowledged it received a fourth takeover bid from Takeda, which its board is considering. Shire said the third offer undervalued the company, its growth prospects and pipeline...