Takeda Sets Date for Shareholder Vote on $62-Billion Acquisition of ShireBy
Takeda Pharmaceutical Company plans to hold a shareholder meeting on December 5, 2018 to vote on matters relating to its proposed $62-billion acquisition of Shire. Takeda and Shire came to terms for a proposed acquisition of Shire by Takeda in May 2018.
Takeda and Shire received clearance from the US Federal Trade Commission for the proposed acquisition in July 2018. In terms of European Union approval, Takeda and Shire have held discussions with the European Commission (EC) in relation to the future potential overlap in the area of inflammatory bowel disease between Takeda’s marketed product, Entyvio (vedolizumab), and Shire’s pipeline compound, SHP647, which is currently in Phase III clinical trials. As a result of those discussions, Takeda has offered to divest SHP647 and certain associated rights with a view to the EC granting a Phase I conditional clearance for the acquisition. The EC will issue its decision in relation to the acquisition on or before November 20, 2018, according to information from Takeda.
Subject to receiving the necessary regulatory and shareholder approvals, Takeda expects to complete the acquisition on January 8, 2019 or as soon as practicable thereafter following approval from the EC to proceed to completion.
Source: Takeda Pharmaceutical Company