Business & Finance
Allergan no longer interested in buying Shire
20 April 2018 -

Allergan (NYSE: AGN) has revealed that it is not interested in buying Shire (LON: SHP) after all, Pharmaphorum reported on Friday.

According to Shire, Takeda (TYO: 4502) has made three proposals since 29 March. Shire is said to have rejected a bid of around GBP42bn (USD60bn).

Allergan was forced to make its announcement following press reports under the UK's takeover code.

Takeda's CEO Christopher Weber wants to turn the firm into a global pharma company, and believes a merger with Shire would help to accelerate this process.

The Japanese company revealed it will "remain disciplined" with any offer and plans to maintain its dividend policy and investment grade credit rating. Discussions between Takeda and Shire are ongoing.