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The Shire (SHPG) board is willing to recommend a sweetened $64 billion bid from Takeda Pharmaceutical (TKPYY) to shareholders, Reuters reports. Some investors, however, worry that Takeda, with only $4.3 billion in cash on hand for the Shire deal, may be overreaching. Takeda stock initially fell more than 7 percent after the latest development was announced over doubts about whether Shire shareholders will accept a bid that is 56 percent in new Takeda shares. The companies received an extension from U.K. regulators until May 8 for Takeda to make a firm offer.
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