Takeda Pharmaceutical (TYO:4502) has sweetened its approximately $60 billion bid for Shire (NSDQ:SHPG) and is approaching a preliminary agreement for acquisition, according to a new report from Bloomberg.

The deal could come to a head as early as today, according to the report, as both companies have been working on a tentative agreement and price for the acquisition. Due to U.K. takeover rules, Takeda will be required to either announce its offer or abandon it by Wednesday afternoon, though the companies could seek an extension.

Discussions between the two this week have mainly revolved around improving the offer, according to Bloomberg, which references individuals with knowledge of the deal. Exact terms were not disclosed, but a raise in value is possible.

Shares in Shire have risen 3.5% today, at $165.69 as of 9:54 a.m. EDT.

Last week, Allergan (NYSE:AGN) flip-flopped on its interest in Shire, announcing that it was considering an acquisition and quickly following it up with an announcement that it does not intend to consider any such offers in the future.

The same week, rumors surfaced that Shire had rejected a $63 billion takeover offer from Takeda.

Reuters, which first broke the news of Allergan’s interest in Shire, citing a pair of unnamed sources, also broke the news that Shire rejected Takeda’s third, $66-per-share offer earlier, which the Japanese company later confirmed.