TOKYO, March 29 (Reuters) - Takeda Pharmaceutical shares sank 5 percent early on Thursday, a day after Japan's largest drugmaker said it was considering a bid for London-listed rare disease specialist Shire that could top $40 billion.
Shares in Takeda fell more than 5 percent in early morning trade, sharply underperforming the broader Tokyo market, which was slightly higher.
Takeda said on Wednesday it was "at a preliminary and exploratory stage" of considering a bid that could spark another takeover battle in the deal-hungry pharma industry. Shire's shares ended 15.7 percent higher, valuing the group at around 32 billion pounds ($45 billion). (Reporting by Minami Funakoshi Editing by Chang-Ran Kim)