Shareholders snub Takeda family to back £46bn Shire deal

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Shareholders arriving at the venue in Osaka to vote on the Shire takeover deal Shareholders arriving at the venue in Osaka to vote on the Shire takeover dealJIJI PRESS/AFP/Getty Images

One of the biggest global pharmaceuticals mergers and acquisitions to date is set to complete next month after Takeda shareholders backed the £46 billion takeover of Shire.

In a general meeting in Osaka, at least 88 per cent of voting shareholders backed the Japanese drugs company issuing new shares as part of the deal, despite opposition from some members of the founding family.

The vote paves the way for Takeda to finance what will be the largest overseas takeover by a Japanese company.

A group of rebel shareholders, led by members of the Takeda family, including a former chairman, had come out publicly against the deal. They had said that the cash-and-shares buyout was too risky for Takeda and that the company could expand by…

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  • Investment
  • Asia
  • Japan
  • Economics