April 25, 2018 / 12:23 AM / 10 months ago

Takeda shares slide 5 percent after revised proposal for Shire

FILE PHOTO: Takeda Pharmaceutical's signboard is seen on its headquarters building in Tokyo, Japan January 30, 2018. REUTERS/Kim Kyung-Hoon/File Photo

TOKYO (Reuters) - Takeda Pharmaceutical Co (4502.T) shares fell more than 5 percent in early trade on Wednesday following news it had sweetened its acquisition offer for London-listed drugmaker Shire Plc SHP.L to 46 billion pounds.

Shire said in a statement it was willing to recommend to its shareholders a deal with the Japanese pharmaceutical company. It said it had agreed to extend a Wednesday regulatory deadline for the deal talks until May 8 in order to allow Takeda to carry out more due diligence and firm up its bid.

Reporting by Chris Gallagher; Editing by Eric Meijer

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