LONDON (Reuters) - Japan's Takeda Pharmaceutical Co Ltd increased its offer for Shire to 47 pounds a share on Friday after its three previous bids - the last at 46.50 pounds - were rejected by the rare disease drugs specialist.

Shire's shares were trading at 38.71 pounds shortly after Takeda confirmed its latest bid.

(Reporting by Paul Sandle; editing by Kate Holton)