April 25, 2018 / 12:20 AM / a year ago

Takeda shares slide 5 percent after revised proposal for Shire

Logos of Japanese Takeda Pharmaceutical Co are seen at an office building in Glattbrugg near Zurich March 7, 2012. REUTERS/Arnd Wiegmann/File Photo /File Photo

TOKYO (Reuters) - Takeda Pharmaceutical Co 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 to 46 billion pounds ($64 billion).

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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