April 24, 2018 / 11:25 PM / a month ago

BRIEF-Shire announces Takeda's revised proposal of about 49 pounds per share

April 24 (Reuters) - Shire Plc:

* SHIRE ANNOUNCES REVISED PROPOSAL AND EXTENSION OF PUSU DEADLINE TO 8 MAY 2018

* INDICATED TO TAKEDA WOULD BE WILLING TO RECOMMEND REVISED PROPOSAL TO SHAREHOLDERS SUBJECT TO SATISFACTORY RESOLUTION OF OTHER TERMS OF POSSIBLE OFFER

* SATISFACTORY RESOLUTION OF OTHER TERMS OF POSSIBLE OFFER, INCLUDE COMPLETION OF RECIPROCAL DUE DILIGENCE BY SHIRE ON TAKEDA

* REVISED PROPOSAL COMPRISES 0.839 NEW TAKEDA SHARES AND US$30.33 IN CASH FOR EACH SHIRE ORDINARY SHARE

* REVISED PROPOSAL IMPLIES AN EQUIVALENT VALUE OF APPROXIMATELY £49 PER SHIRE ORDINARY SHARE

* REVISED PROPOSAL COMPRISING OF £27.26 IN NEW TAKEDA SHARES; AND £21.75 IN CASH

* REVISED PROPOSAL IS EQUIVALENT TO A VALUE OF APPROXIMATELY £46 BILLION FOR ENTIRE ISSUED AND TO BE ISSUED SHARE CAPITAL OF COMPANY

* CO SHAREHOLDERS WOULD BE ENTITLED TO ANY DIVIDENDS ANNOUNCED BY SHIRE IN ORDINARY COURSE PRIOR TO COMPLETION OF POSSIBLE TRANSACTION

* ON DEAL COMPLETION, SHIRE SHAREHOLDERS WOULD OWN APPROXIMATELY 50 PER CENT

* OF THE ENLARGED TAKEDA AND THE NEW TAKEDA SHARES WILL BE LISTED IN JAPAN AND IN US THROUGH AN ADR PROGRAM Source text for Eikon: Further company coverage:

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