European authorities approve Takeda’s GBP46bn purchase of Shire

European antitrust authorities today have approved Takeda Pharmaceutical’s GBP46bn acquisition of Shire, on condition that Takeda sells its SHP647 Crohn’s disease therapy, currently undergoing a Phase III clinical trial.

The acquisition has already been approved by the Chinese, Japanese and US authorities.

The deal was opposed by 1% of Takeda’s shareholders, who have voiced their concern over the huge indebtedness they expect from the acquisition. However, according to Takeda’s managers, the debt will be manageable, and they plan to set it off in as little as 5 years.

(Source: WSJ)