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Business deals

Takeda's $60bn offer for Shire rejected as too low

'More attractive' proposal requested for would-be record acquisition

Takeda is in talks to purchase Irish rival Shire, which would be the largest offshore acquisition by a Japanese company.   © Reuters

LONDON -- Takeda Pharmaceutical confirmed Thursday that it seeks to buy Shire, though the Irish drugmaker -- whose market value trumps that of its Japanese peer -- agreed only to talks with the suitor after finding its proposal unsatisfactory.

Japan's biggest drugmaker by sales proposes buying all of Shire for 42.7 billion pounds ($60.7 billion) in cash and stock, according to a company statement.

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