90% of Shareholders in Takeda today have approved, at a meeting in Osaka, the acquisition of Ireland-based Shire for GBP46bn.
The acquisition significantly transforms the structure of the Japan-based group, which becomes a $32bn-revenue giant, entering the rankings of the 10 largest drugmakers in the world and becoming a leader in rare diseases therapies, especially hemophilia therapies. The acquisition will be funded by issuing new shares, for a value of GBP25bn, and by securing loans from a bank consortium, resulting in a minimum GBP24bn debt. Takeda’s executives have stated that at least $10bn of this debt will be offset by selling some non essential assets and by cutting $1.4bn in costs.
The deal had been soon opposed by a minority of shareholders led by the company’s former chairman Kunio Takeda, who is also the last member of the group’s founding family. Importantly, the acquisition has already been approved by the antitrust regulators of the world’s leading markets, such as Japan, the US and Europe.