Takeda Shareholders Approve Resolutions Related To Proposed Acquisition Of Shire

(RTTNews) - Japan's Takeda Pharmaceutical Company Limited (TKPYY.PK) announced that its shareholders approved resolutions related to the proposed acquisition of Shire plc. (SHPG, SHP.L).

The company said its 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 deal was approved as originally proposed by at least 88 percent of the votes exercised in respect of this proposal.

The company has now satisfied the shareholder approval condition required to implement the deal.

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.

It is expected that completion of the acquisition will take place on January 8, 2019.

Christophe Weber, President and Chief Executive Officer of Takeda, said, "With shareholder approval secured, we are looking forward to closing the acquisition in the coming weeks to create a more competitive, agile, highly profitable, and therefore more resilient company, poised to deliver highly innovative medicines and transformative care to patients around the world."

In addition, Takeda's proposal to appoint three of Shire's existing external directors, namely Ian Clark, Olivier Bohuon and Steven Gillis, to the Takeda Board with effect from closing was also approved as originally proposed.