Some Takeda Shareholders to Oppose Shire Buyout

May 30, 2018

Tokyo- Some shareholders of Takeda Pharmaceutical Co. plan to oppose its 7-trillion-yen acquisition of Shire PLC at a general shareholders meeting on June 28, according to a notice by Takeda.

The 12 shareholders claim that the deal "carries overly high risks," judging from its huge size and Takeda's current financial situation, said the notice of convocation released Tuesday.

The shareholders are believed to be members of a group comprising mainly Takeda alumni to mull over the company's future.

They will propose revising the articles of incorporation to require the company to gain a prior approval for a share acquisition deal worth more than one trillion yen at a shareholders meeting.

In the notice, the Takeda board expressed its objection to the proposal, saying that the acquisition will significantly improve the company's financial profile in a short to medium term.

Regarding the buyout of the Irish drug maker, Takeda will hold a special shareholders meeting, the board said. Jiji Press