Christophe Weber, CEO of Japan-based Takeda, is finding himself in a contradictory situation: indeed, on the one hand, the French manager has become famous thanks to Shire acquisition, which is the largest takeover ever performed by a Japanese group. At the same time, he is facing resistance by a minor shareholders’ group opposing the deal, which will be voted on January 8th. Specifically, 10% of shareholders considers the takeover a fatal error, which will cause a sharp value loss to all shareholders, and will increase the group’s indebtedness to 5xEBIT.
The market is giving signs of disapproval, indeed Takeda’s shares have lost 18% (Tokyo) since the announcement. Certainly, publishing data about fees paid to external advisors hired for the acquisition has not helped Christophe Weber.
Bankers have earned as much as $648m, lawyers have earned about $105m, accountants have made $26m, PR advisers have earned $10m. On the whole, external advisers have earned over $1bn. These figures make the Takeda/Shire deal one of the most advantageous to external advisers, however managers of Anheuser-Bush InBev still keep the record, having paid advisers $2bn.