Report
Karen Andersen
EUR 100.00 For Business Accounts Only

Maintaining Our FVE for Shire and Takeda During Extended Offer Period

We’re not making any changes to our fair value estimates for Shire (GBP 48.90 per share/$205 per ADR) or Takeda (JPY 5,400) following Shire’s first-quarter results and continued negotiations between the two firms regarding a merger. The latest offer from Takeda, made on April 24—GBP 49 per share, including almost GBP 22 per share in cash (the highest proportion of cash of any of the prior four offers)—is not a formal bid, but we expect Takeda to formalize the bid by the new May 8 deadline, once ...
Underlying
SHIRE PLC ADS

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Karen Andersen

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