Site icon pharmaceutical daily

Japanese Takeda in a $5.2 billion acquisition deal with USA-based Ariad

Takeda has ensured the signature to buy USA-based drugmaker focused on producing cancer treatments, Ariad Pharmaceuticals for about $5.2 billion, or $24 per share in cash for stockholders.

The deal was executed unanimously by the both companies, and it’s expected to close by the end of February 2017.

Ariad’s boss, Paris Panayiotopoulus sees this as opportunity to speed up rare cancer therapies development, and as a significant financial boost for the company’s shareholders.

Alexander J. Denner, Ph.D., Chairman of the Ariad’s Board of Directors expressed similar views on the transaction, and pointed out improvement for the cancer patients.

Dr. Denner said: “The transaction also underscores the tremendous value that shareholder activism can create for shareholders, patients and society. While Ariad’s stock price was collapsing and many investors were abandoning the company, Sarissa Capital saw a company with important drugs and innovation and stepped in to become one of Ariad’s largest shareholders.”

Takeda’s boss, Christophe Weber, said that this purchase should generate returns for Taketa’s shareholders.

Weber, the president and chief executive officer of Takeda, said: “This is a very exciting time for Takeda as we will broaden our hematology portfolio and transform our global solid tumor franchise through the addition of two innovative targeted therapies. Opportunities to acquire such high-quality, complementary targeted therapies do not come often, and we are very excited about the potential for this transaction to benefit patients, our shareholders and other stakeholders.”

Under the terms of the agreement, the acquisition is structured as an all cash tender offer for all of the outstanding shares of Ariad common stock, followed by a merger in which remaining shares of Ariad would be converted into the right to receive the same $24.00 cash per share price paid in the tender offer.

Takeda Pharmaceuticals U.S.A., a wholly owned subsidiary of Takeda, has established Kiku Merger Co., Inc. to effect the transaction.

Exit mobile version