BRIEF—Takeda shareholders vote for Shire acquisition

Despite moves by a small minority of shareholders to derail the deal, a vast majority of shareholders today voted in favor of Japanese drug major Takeda Pharmaceutical’s £46 billion ($58.6 billion) acquisition of Ireland-headquartered rare diseases specialist Shire.

Takeda’s proposal to delegate to the Takeda board the decision regarding the offering terms for the issuance of the new Takeda shares required to implement the proposed acquisition was approved as originally proposed by at least 88% of the votes exercised in respect of this proposal.

The Takeda shareholder approval condition required for the acquisition to be implemented has therefore been satisfied.

The acquisition remains subject to approval by Shire shareholders at meetings expected to be held later today, and to the sanctioning of the Shire scheme of arrangement by the Jersey Court at a hearing expected to be held on January 3, 2019.

Subject to receipt of the necessary Shire shareholder approvals and the sanction of the scheme of arrangement by the Jersey Court, it is expected that completion of the acquisition will take place on January 8, 2019.