Takeda investors back $59bn Shire deal, but wary of debt load
Takeda will be joining the ranks of the world’s top 10 drugmakers and gaining expertise in rare diseases through the deal
Osaka — Takeda Pharmaceutical shareholders have approved its $59bn takeover of London-listed Shire, creating a global powerhouse with a stronger drugs pipeline but one that is saddled with enormous debt. Takeda will be joining the ranks of the world’s top 10 drugmakers and gaining expertise in rare diseases through the deal, the biggest overseas acquisition by a Japanese company. It will also become one of the most indebted. In addition to issuing new shares, the company has secured $30.9bn in bank loans. The company’s high debt levels were a top concern for shareholders who gathered at an extraordinary meeting in Osaka, western Japan, although almost 90% of them voted to approve the deal as expected. “I want to keep my Takeda shares into the future, but now I am worried about further declines in the share price,” said Satoshi Ito, a 75-year-old shareholder. He abstained from voting on Wednesday. Takeda shares have fallen about 25% since the drugmaker revealed its interest in the ac...
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