Takeda Pharmaceutical Co. sweetened its offer for drugmaker Shire PLC to more than $60 billion after three prior bids were rejected, wooing investors in the U.S. company with a higher cash component.
The Japanese company boosted its offer to £47 ($65.84) a share from £46.50 a share, confirming an earlier report that it was considering a higher bid for Lexington, Massachusetts-based Shire. The new proposal includes £21 a share in cash and £26 a share in new stock.
Shire said in a statement that its board of directors "is considering its position with respect to the fourth proposal and will issue a further announcement in due course."