Maintaining Our FVE for Shire and Takeda During Extended Offer Period

Leading Independent Investment Research, Morningstar, Inc.

Morningstar

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Morningstar, Inc.

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Event-Driven

<p><a href="https://www.smartkarma.com/entities/22142" target="_blank" data-smartkarma-citation="entities:22142:1">Shire PLC (SHP LN)</a> has released details of recent negotiations with <a href="https://www.smartkarma.com/entities/11747" target="_blank" data-smartkarma-citation="entities:11747:1">Takeda Pharmaceutical Co Ltd (4502 JP)</a>, detailing three proposed (and rejected) bids from the Japanese pharmaceutical firm. <a href="https://www.smartkarma.com/entities/867" target="_blank" data-smartkarma-citation="entities:867:1">Allergan Plc (AGN US)</a> is also now evaluating a potential offer for Shire. We’re maintaining our GBX 4,890 per share/$205 per ADR valuation for Shire; shares remain undervalued, in our view, and the firm’s growing plasma business and steady rare-disease portfolio contribute to its narrow moat rating. As we…</p>

Shire PLC (SHP LN) has released details of recent negotiations with Takeda Pharmaceutical Co Ltd (4502 JP), detailing three proposed (and rejected) bids from the Japanese pharmaceutical firm. Allergan Plc (AGN US) is also now evaluating a potential offer for Shire. We’re maintaining our GBX 4,890 per share/$205 per ADR valuation for Shire; shares remain undervalued, in our view, and the firm’s growing plasma business and steady rare-disease portfolio contribute to its narrow moat rating. As we…

Shire Remains Undervalued as Takeda Weighs Higher Bid and Allergan Enters the Picture