Daily Financial News

Shire rejects $63 billion Takeda bid as Allergan drops pursuit

Shire rejects $63 billion Takeda bid as Allergan drops pursuitNEW YORK/LONDON (Reuters) - Rare disease drug maker Shire Plc (SHP.L) said on Thursday it had rejected a $63 billion (44.7 billion pounds) cash-and-stock acquisition offer by Japan's Takeda Pharmaceutical Co Ltd , while Allergan Plc (AGN.N) reversed course on pursuing a rival bid. An acquisition of Shire by Takeda would be by far the biggest acquisition of a drug company year-to-date. Botox-maker Allergan confirmed on Thursday it was considering an offer for Shire after Reuters reported on its interest, sending its shares down 7 percent.

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