Ja­panese com­pany’s £46bn deal for Shire

Yorkshire Post - Business - - BUSINESS / NEWS -

Ja­panese drugs firm Takeda has won share­holder ap­proval for its £46bn ac­qui­si­tion of Shire, paving the way for the deal to cre­ate one of the big­gest phar­ma­ceu­ti­cal firms in the world.

Takeda said it won sup­port from at least 88 per cent of its share­hold­ers at an ex­tra­or­di­nary gen­eral meet­ing in Osaka on Wed­nes­day.

Shire in­vestors also over­whelm­ingly gave the deal the thumbs up, with 99.8 per cent of in­vestors vot­ing in favour, which means the deal is now ex­pected to com­plete on Jan­uary 8.

Christophe We­ber, Takeda’s pres­i­dent and chief ex­ec­u­tive, 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.”

Shares in Shire, which have soared since the deal was an­nounced, rose an­other 3 per cent on news of the share­holder ap­proval.

Takeda reached a deal in May to buy Ir­ish ri­val Shire for £49.01 a share.

But there had been con­cerns the com­pany is tak­ing on too much debt to fi­nance the deal.

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