Takeda shareholders reject proposal demanding in-advance shareholder approval for large-scale acquisition
28 JUN 2018
Takeda Pharmaceutical [TYO:4502] shareholders, at the company's annual regular shareholders meeting held earlier today (28 June), rejected a proposal that demanded for the company to obtain in-advance shareholder approval for a large-scale acquisition, according to a newswire report.
The proposal, which was made by a group of Takeda shareholders, was voted against at the shareholders meeting, Reuters reported, citing a company spokesman.
The proposal demanded for the Japanese pharmaceutical firm to change its corporate article that requires the company to obtain in-advance shareholder approval for any aquisition plan with a value in excess of JPY 1tn (USD 9bn), according to the report.
Proxy advisor International Shareholder Services (ISS) was recommending that Takeda shareholders vote against the proposal, the report added.