PHARMACEUTICALS
Takeda Pharma investors fight ‘irrational’ $62bn Shire acquisition
Tokyo — A group of Takeda Pharmaceutical shareholders is trying to build support to block the $62bn acquisition of London-listed Shire at an extraordinary general meeting, a leading member of the group said on Monday. Takeda will hold the shareholder meeting later in 2018 or early in 2019 to approve an issue of new stock to help fund the Shire deal, making it a de facto vote on the deal itself. The 130-member group formed by former Takeda employees holds 1% of the drug maker’s shares and needs to secure a third of shareholder votes. It is "working steadily to increase support" for blocking the deal among domestic retail investors and overseas institutional investors who own 25% and 35% of Takeda shares respectively, the person said on condition of anonymity. The group includes members of the founding Takeda family, medical journal Nikkan Yakugyo reported in May. The family owns about 10% of Takeda shares, people familiar with the matter said. In 2017, the same group attempted to pre...
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