Takeda dissident shareholders look to win support in London, New York for attempt to block Shire takeover - report
21 OCT 2018
The Takeda Pharmaceutical [TYO:4502] dissident shareholders group TTBF is trying to secure support in London and New York for their attempt to block the Japanese company’s GBP 46bn (EUR 52.16bn) takeover of Irish counterpart Shire [LON:SHP], The Sunday Times reported. The newspaper did not cite a source for the information.
TTBF, representing members of Takeda’s founding family, have criticised the Shire takeover, saying it will put the company’s dividend at risk and dilute the Japanese group’s corporate culture.
However, some estimates indicate that TTBF represents just 1% of Takeda shareholders, the report said. Takeda’s large shareholders are believed to be in favour of the Shire deal, the item added.
Shire’s market capitalisation stood at GBP 41.23bn at the close of trading in London on Friday, 19 October.
Background:
A report from this news service on 5 October quoted a leading member of a group of Takeda shareholders trying to derail the Shire deal, who said they were considering writing to individual shareholders to urge them to vote against the deal at its upcoming EGM.
The 130-member group holds 1% of Takeda’s shares, the report said.
The shareholder said the group would try to obtain the shareholder list from Takeda after the name of shareholders on record was confirmed on 19 October. The shareholder did not entirely discount the prospect of a proxy battle.