Takeda Receives China Approval For Proposed Acquisition Of Shire

(RTTNews) - Takeda Pharmaceutical Company Limited (TKPHF.PK) said that it has received unconditional clearance from the State Administration for Market Regulation in China or the proposed acquisition of Shire plc (SHPG, SHP.L).

As announced on July 10, 2018, Takeda has received unconditional clearance for the Acquisition from the United States Federal Trade Commission. As confirmed on August 28, 2018, Takeda has received unconditional clearance from the Brazilian Administrative Council for Economic Defense. China's unconditional clearance of the Acquisition is another key step in the transaction process.

The Acquisition remains subject to a number of conditions, including receipt of other regulatory clearances and approval by the shareholders of both companies.

On May 8, 2018, Japan's Takeda Pharmaceutical (TKPHF.PK, TKPYY.PK) announced that it has reached an agreement on the terms of a recommended offer to acquire Irish drugmaker Shire. The offer of 49.01 pounds per Shire Share valued the entire share capital of Shire at about 46 billion pounds.