Takeda raises $7.5 billion to help fund Shire purchase

Japan’s Takeda Pharmaceutical (TSE: 4502) has managed to raise up to $7.5 billion in a term loan credit agreement from financial institutions including JP Morgan Chase, Sumitomo Mitsui Banking Corporation, MUFG Bank, and others. Most of the money was provided by Japanese companies.

The money is intended to cover part of the firm’s proposed $62 billion acquisition of London-listed rare disease specialist Shire (LSE: SHP).

Chief executive Christophe Weber, who has faced criticism from a minority of shareholders concerned about the size of the purchase, has previously said he believed Takeda could borrow money to fund the deal while maintaining dividends and without diluting shares.