Shire/Takeda expected to obtain close to 90% approval at extraordinary shareholders meeting - report (translated)
12 NOV 2018
Takeda Pharmaceutical [TYO:4502] will likely obtain close to a 90% approval at the extraordinary shareholders meeting for the planned acquisition of Shire [LON:SPH], the Nihon Keizai Shimbun reported.
The Japanese-language report disclosed, without citing any source, that despite a group of shareholders who are opposed to the transaction, institutional investors and others favor the deal, with Takeda expected to obtain close to 90% of the votes required to get the plan approved. Takeda needs to get a two-thirds majority of votes for the acquisition to go forward, the report said.
Takeda announced on 12 November that it will hold an extraordinary shareholders meeting on 5 December to gain approval for the acquisition of Shire, the report said, noting that Takeda will ask shareholders to vote on the issue of new shares having a value of about JPY 4trn (USD 35bn). If all goes smoothly, Takeda is aiming to complete the deal by 8 January 2019, the report added.