Takeda-Shire deal is expected to close early next year. Credit: Lombroso.

Takeda Pharmaceutical has secured shareholder approval for the issuance of its shares necessary to implement the proposed $62bn acquisition of Shire.

The Japanese pharmaceutical company received at least 88% of votes exercised in favour of the proposal. Further, at least 87% of the votes exercised were in support of the company’s proposal to appoint three of Shire’s existing external directors to its board.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Takeda Pharmaceutical president and CEO Christophe Weber said: “With shareholder approval secured, we are looking forward to closing the acquisition in the coming weeks to create a more competitive, agile, highly profitable, and therefore more resilient company, poised to deliver highly innovative medicines and transformative care to patients around the world.”

The company obtained a conditional approval from the European Commission (EC) last month for the acquisition. The clearance requires divestiture of Shire’s inflammatory bowel disease (IBD) product SHP647 and select associated rights to prevent future potential overlap with a similar Takeda compound.

“We are looking forward to closing the acquisition in the coming weeks to create a more competitive, agile, highly profitable, and therefore more resilient company.”

This followed previous approvals by multiple regulatory authorities, including the US Federal Trade Commission, the Japan Fair Trade Commission, the State Administration for Market Regulation in China and the Brazilian Administrative Council for Economic Defense.

The transaction is still subject to approval by Shire shareholders and the sanctioning of the Shire scheme of arrangement by the Jersey Court. The court hearing is set to take place on 3 January next year.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

After gaining the necessary approvals and the sanction, the deal is expected to close on 8 January. It is anticipated that the acquisition will make Takeda one of the world’s top ten pharmaceutical companies.

However, according to Reuters, the acquisition will cause Takeda to  become one of the most indebted companies; Takeda is reportedly planning to divest up to $10bn worth of assets to pay the debt.