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March 28, 2018, 5:43 a.m. EDT

Shire shares surge as Takeda eyes acquisition bid

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By Adam Clark

Japan's Takeda Pharmaceutical Co. (4502.TO) said Wednesday that it is considering making an offer for Shire PLC .

Takeda said it hasn't approached Shire's board and the proposal is at a "preliminary and exploratory" stage. Takeda didn't disclose any financial details of a potential offer.

A deal with Shire would create a global biopharmaceutical leader, strengthening Takeda's core therapeutic areas of oncology, gastrointestinal disorders, and neuroscience said the Japanese company. Takeda added that acquiring Shire's rare-disease franchise would accelerate its plan to become a leader in specialized medicines.

Takeda also said acquiring Shire would balance its geographic focus to align with the market opportunity in the U.S.

Shares in Shire at 0933 GMT were up 772 pence, or 25%, at 3,842 pence.

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