Takeda Wins Japan Fair Trade Commission Nod for USD 62bn Acquisition of Shire.
MANews-(C)2009-2018
18 October 2018 - Japanese drugmaker Takeda Pharmaceutical Company Ltd. (TSX: 4502) has received unconditional clearance from the Japan Fair Trade Commission for the proposed acquisition of Ireland-based Shire plc (LON: SHP), the company said.
The receipt of antitrust clearance in Japan is another significant step towards closing the transaction. In addition to Japan, the acquisition has now received unconditional clearances from regulatory authorities in multiple key jurisdictions, including the United States, China and Brazil, among others.
Under the terms of the acquisition, each Shire shareholder will be entitled to receive USD 30.33 in cash for each Shire share and either 0.839 new Takeda shares or 1.678 Takeda ADSs.
The transaction has been approved by both companies' boards of directors, and is expected to close in the first half of calendar year 2019.
Upon the closing of the transaction, Takeda shareholders will own approximately 50% of the combined group.
The companies say the deal brings together complementary positions in GI and neuroscience; provides leading positions in rare diseases and plasma-derived therapies to complement strength in oncology and focused efforts in vaccines
Takeda said the acquisition of Shire will accelerate Takeda's transformation by bringing together Takeda and Shire's complementary positions in GI and neuroscience.
It will also provide the combined group with leading positions in rare diseases and plasma-derived therapies to complement strength in oncology and focused efforts in vaccines.
Takeda will continue to focus on the acceleration of its oncology business, following its recent acquisition of Ariad Pharmaceuticals. In addition, Takeda's vaccine business will continue to address the world's most pressing public health needs.
Shire's portfolio will benefit from Takeda's strong international presence in emerging markets and Japan.
The integrated company will continue to be headquartered in Japan, expand its R and D presence in the Boston area and have major regional locations in Japan, Singapore, Switzerland and the US.
Takeda and Shire say they have highly complementary pipelines. Shire has strong expertise in rare diseases, an attractive modality-diverse mid- and late-stage pipeline, enriched with large-molecule programs, as well as cutting-edge technologies in gene therapy and recombinant proteins.
Combining this with Takeda's early development and research-oriented R and D...
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