Takeda to acquire ARIAD Pharmaceuticals
The transaction has been approved unanimously by the boards of directors of both companies, and is expected to close by the end of February 2017.
Takeda Pharmaceuticals and ARIAD Pharmaceuticals have entered into a definitive agreement under which Takeda will acquire all of the outstanding shares in ARIAD for $24.00 per share in cash, or an enterprise value of approximately $5.2 billion.
The transaction has been approved unanimously by the boards of directors of both companies, and is expected to close by the end of February 2017, subject to required regulatory approvals and other customary closing conditions.
Sarissa Capital, the holder of 6.6% of ARIAD’s common shares, as well as each of the members of ARIAD’s Board of Directors have agreed to tender their shares to Takeda pursuant to the offer.
“The acquisition of ARIAD is a unique opportunity to broaden our haematology portfolio and transform our global solid tumour franchise through the addition of two innovative targeted therapies,” said Christophe Weber, President and CEO of Takeda.
“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.”
Paris Panayiotopoulos, President and CEO of ARIAD, said, “We are very pleased to combine with Takeda, and I believe our shared commitment to innovation and research-driven cultures will provide for a smooth transition.”