EXHIBIT 99.2
NOT FOR RELEASE, PUBLICATION
OR DISTRIBUTION IN WHOLE OR IN PART IN, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE
A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION
THIS ANNOUNCEMENT DOES NOT CONSTITUTE
AN ANNOUNCEMENT OF A FIRM INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE “CODE”).
THERE CAN BE NO CERTAINTY THAT ANY FIRM OFFER WILL BE MADE, NOR AS TO THE TERMS ON WHICH ANY FIRM OFFER MIGHT BE MADE.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
Shire plc (“Shire”
or the “Company”)
24 April 2018
Statement re revised proposal
The Board announces that it has received
a revised proposal from Takeda regarding a possible offer for the Company on 24 April 2018.
The Board is considering its position.
There can be no certainty that any firm
offer for the Company will be made nor as to the terms on which any firm offer might be made.
This announcement is made without the consent
of Takeda.
Enquiries
| Shire plc |
|
| Christoph Brackmann (Investor Relations) |
+41 795 432 359 |
| Sun Kim (Investor Relations) |
+1 617 588 8175 |
| Katie Joyce (Media) |
+1 781 482 2779 |
| |
|
| Citigroup Global Markets Limited |
|
| Chris Hite |
+1 212 816 6000 |
| Cary Kochman |
|
| Jan Skarbek |
+44 207 986 4000 |
| Andrew Seaton (Corporate Broking) |
|
| |
|
| Goldman Sachs International |
+44 20 7774 1000 |
| Anthony Gutman |
|
| Robert King |
|
| Nick Harper |
|
| |
|
| Morgan Stanley & Co. International plc |
+44 20 7425 8000 |
| Clint Gartin |
|
| Philippe Gallone |
|
| David Kitterick |
|
| Peter Moorhouse (Corporate Broking) |
|
Person responsible
Stephen Williams, Deputy Company Secretary,
is responsible for arranging the release of this announcement on behalf of the Company.
Publication on a website
In accordance with Rule 26.1 of the Code,
a copy of this announcement will be made available, subject to certain restrictions relating to persons resident in restricted
jurisdictions, on Shire's website at www.shire.com by no later than noon (London time) on the business day following this
announcement. The content of this website is not incorporated into and does not form part of this announcement.
Further information
This announcement is not intended to,
and does not, constitute or form part of any offer, invitation or the solicitation of an offer to purchase, otherwise acquire,
subscribe for, sell or otherwise dispose of, any securities whether pursuant to this announcement or otherwise.
The distribution of this announcement
in jurisdictions outside the United Kingdom may be restricted by law and therefore persons into whose possession this announcement
comes should inform themselves about, and observe, such restrictions. Any failure to comply with the restrictions may constitute
a violation of the securities law of any such jurisdiction.
Citigroup Global Markets Limited, which
is authorised by the Prudential Regulation Authority and regulated in the UK by the Financial Conduct Authority and the Prudential
Regulation Authority in the United Kingdom, is acting for Shire and no one else in connection with the matters described in this
announcement and shall not be responsible to anyone other than Shire for providing the protections afforded to clients of Citigroup
Global Markets Limited, or for giving advice in connection with the matters described in this announcement or any matter referred
to therein.
Goldman Sachs International, which is
authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation
Authority in the United Kingdom, is acting for Shire and no one else in connection with the matters described in this announcement
and will not be responsible to anyone other than Shire for providing the protections afforded to clients of Goldman Sachs International,
or for giving advice in connection with the matters described in this announcement or any matter referred to herein.
Morgan Stanley & Co. International
plc, which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential
Regulation Authority in the United Kingdom, is acting for Shire and no one else in connection with the matters described in this
announcement and will not be responsible to anyone other than Shire for providing the protections afforded to clients of Morgan
Stanley & Co. International plc, or for giving advice in connection with the matters described in this announcement or any
matter referred to herein.
Disclosure requirements of the Code
Under Rule 8.3(a) of the Code, any person
who is interested in 1% or more of any class of relevant securities of an offeree company or of any securities exchange offeror
(being any offeror other than an offeror in respect of which it has been announced that its offer is, or is likely to be, solely
in cash) must make an Opening Position Disclosure following the commencement of the offer period and, if later, following the announcement
in which any securities exchange offeror is first identified. An Opening Position Disclosure must contain details of the person's
interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii)
any securities exchange offeror(s). An Opening Position Disclosure by a person to whom Rule 8.3(a) applies must be made by no later
than 3.30 pm (London time) on the 10th business day following the commencement of the offer period and, if appropriate, by no later
than 3.30 pm (London time) on the 10th business day following the announcement in which any securities exchange offeror is first
identified. Relevant persons who deal in the relevant securities of the offeree company or of a securities exchange offeror prior
to the deadline for making an Opening Position Disclosure must instead make a Dealing Disclosure.
Under Rule 8.3(b) of the Code, any person
who is, or becomes, interested in 1% or more of any class of relevant securities of the offeree company or of any securities exchange
offeror must make a Dealing Disclosure if the person deals in any relevant securities of the offeree company or of any securities
exchange offeror. A Dealing Disclosure must contain details of the dealing concerned and of the person's interests and short positions
in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any securities exchange offeror(s),
save to the extent that these details have previously been disclosed under Rule 8. A Dealing Disclosure by a person to whom Rule
8.3(b) applies must be made by no later than 3.30 pm (London time) on the business day following the date of the relevant dealing.
If two or more persons act together pursuant
to an agreement or understanding, whether formal or informal, to acquire or control an interest in relevant securities of an offeree
company or a securities exchange offeror, they will be deemed to be a single person for the purpose of Rule 8.3.
Opening Position Disclosures must also
be made by the offeree company and by any offeror and Dealing Disclosures must also be made by the offeree company, by any offeror
and by any persons acting in concert with any of them (see Rules 8.1, 8.2 and 8.4).
Details of the offeree and offeror companies
in respect of whose relevant securities Opening Position Disclosures and Dealing Disclosures must be made can be found in the Disclosure
Table on the Takeover Panel's website at www.thetakeoverpanel.org.uk, including details of the number of relevant securities in
issue, when the offer period commenced and when any offeror was first identified. You should contact the Panel's Market Surveillance
Unit on +44 (0)20 7638 0129 if you are in any doubt as to whether you are required to make an Opening Position Disclosure or a
Dealing Disclosure.
About Shire
Shire is the global leader in serving
patients with rare diseases. We strive to develop best-in-class therapies across a core of rare disease areas including hematology,
immunology, genetic diseases, neuroscience, and internal medicine with growing therapeutic areas in ophthalmics and oncology. Our
diversified capabilities enable us to reach patients in more than 100 countries who are struggling to live their lives to the fullest.
We feel a strong sense of urgency to
address unmet medical needs and work tirelessly to improve people's lives with medicines that have a meaningful impact on patients
and all who support them on their journey.
www.shire.com
Forward-Looking Statements
Statements included herein that are not
historical facts, including without limitation statements concerning future strategy, plans, objectives, expectations and intentions,
projected revenues, the anticipated timing of clinical trials and approvals for, and the commercial potential of, inline or pipeline
products, are forward-looking statements. Such forward-looking statements involve a number of risks and uncertainties and are subject
to change at any time. In the event such risks or uncertainties materialize, Shire's results could be materially adversely affected.
The risks and uncertainties include, but are not limited to, the following:
| · | Shire's products may not be a commercial success; |
| · | increased pricing pressures and limits on patient access as a result of governmental regulations
and market developments may affect Shire's future revenues, financial condition and results of operations; |
| · | Shire depends on third parties to supply certain inputs and services critical to its operations
including certain inputs, services and ingredients critical to its manufacturing processes. Any disruption to the supply chain
for any of Shire's products may result in Shire being unable to continue marketing or developing a product or may result in Shire
being unable to do so on a commercially viable basis for some period of time; |
| · | the manufacture of Shire's products is subject to extensive oversight by various regulatory
agencies. Regulatory approvals or interventions associated with changes to manufacturing sites, ingredients or manufacturing processes
could lead to, among other things, significant delays, an increase in operating costs, lost product sales, an interruption of research
activities or the delay of new product launches; |
| · | the nature of producing plasma-based therapies may prevent Shire from timely responding to market
forces and effectively managing its production capacity; |
| · | Shire has a portfolio of products in various stages of research and development. The successful
development of these products is highly uncertain and requires significant expenditures and time, and there is no guarantee that
these products will receive regulatory approval; |
| · | the actions of certain customers could affect Shire's ability to sell or market products profitably.
Fluctuations in buying or distribution patterns by such customers can adversely affect Shire's revenues, financial conditions or
results of operations; |
| · | failure to comply with laws and regulations governing the sales and marketing of its products
could materially impact Shire's revenues and profitability; |
| · | Shire's products and product candidates face substantial competition in the product markets
in which it operates, including competition from generics; |
| · | Shire's patented products are subject to significant competition from generics; |
| · | adverse outcomes in legal matters, tax audits and other disputes, including Shire's ability
to enforce and defend patents and other intellectual property rights required for its business, could have a material adverse effect
on the Shire's revenues, financial condition or results of operations; |
| · | Shire may fail to obtain, maintain, enforce or defend the intellectual property rights required
to conduct its business; |
| · | Shire faces intense competition for highly qualified personnel from other companies and organizations; |
| · | failure to successfully execute or attain strategic objectives from Shire's acquisitions and
growth strategy may adversely affect the Shire's financial condition and results of operations; |
| · | Shire's growth strategy depends in part upon its ability to expand its product portfolio through
external collaborations, which, if unsuccessful, may adversely affect the development and sale of its products; |
| · | a slowdown of global economic growth, or economic instability of countries in which Shire does
business, could have negative consequences for Shire's business and increase the risk of non-payment by Shire's customers; |
| · | changes in foreign currency exchange rates and interest rates could have a material adverse
effect on Shire's operating results and liquidity; |
| · | Shire is subject to evolving and complex tax laws, which may result in additional liabilities
that may adversely affect the Shire's financial condition or results of operations; |
| · | if a marketed product fails to work effectively or causes adverse side effects, this could result
in damage to Shire's reputation, the withdrawal of the product and legal action against Shire; |
| · | Shire is dependent on information technology and its systems and infrastructure face certain
risks, including from service disruptions, the loss of sensitive or confidential information, cyber-attacks and other security
breaches or data leakages that could have a material adverse effect on Shire's revenues, financial condition or results of operations; |
| · | Shire faces risks relating to the expected exit of the United Kingdom from the European Union; |
| · | Shire incurred substantial additional indebtedness to finance the Baxalta acquisition, which
has increased its borrowing costs and may decrease its business flexibility; |
| · | Shire's ongoing strategic review of its Neuroscience franchise may distract management and employees
and may not lead to improved operating performance or financial results; there can be no guarantee that, once completed, Shire's
strategic review will result in any additional strategic changes beyond those that have already been announced; |
| · | the potential uncertainty resulting from the announcement by Takeda Pharmaceutical Company Limited
that it is considering making a possible offer for Shire; and |
a further list and description of risks,
uncertainties and other matters can be found in Shire's most recent Annual Report on Form 10-K and in Shire's subsequent Quarterly
Reports on Form 10-Q, in each case including those risks outlined in "ITEM1A: Risk Factors", and in Shire's subsequent
reports on Form 8-K and other Securities and Exchange Commission filings, all of which are available on Shire's website.
All forward-looking statements attributable
to us or any person acting on our behalf are expressly qualified in their entirety by this cautionary statement. Readers are cautioned
not to place undue reliance on these forward-looking statements that speak only as of the date hereof. Except to the extent otherwise
required by applicable law, we do not undertake any obligation to update or revise forward-looking statements, whether as a result
of new information, future events or otherwise.
