European regulators approve Takeda’s acquisition of Shire after divestment

By Maggie Lynch contact

- Last updated on GMT

(Image: Getty/AndreyPopov)
(Image: Getty/AndreyPopov)

Related tags: Ema, Divest, regulatory approval, European commission

Takeda’s aim to acquire Shire for $62bn received a boost after regulators vote positively to approve the transaction following the divestment of Shire’s IBD drug.

The European Commission​ gave approval to the $62bn (€54.4) takeover​ subject to the divestment of a Shire drug in development.

The company previously proposed the divestment​ of Shire’s drug candidate SHP647, for the treatment of inflammatory bowel disease (IBD). Takeda’s highest-selling drug, Entyvio (vedolizumab), is also for the treatment of IBD. 

Regulators in the US, Japan, China, and Brazil have already approved this acquisition.

Takeda agreed to buy Shire with a bid of 46% cash and 54% stock meaning Shire shareholders would own half of the merged company. Shire initially rejected​ Takeda’s proposal.

An investor vote​ is set for next month, needing two-thirds of its shareholders to support the deal in order for it to be approved. The company previously stated that debt burden is a concern for Takeda and its shareholders, as the company would be reliant on a $30.9bn bridge loan to finance the acquisition.

London-listed Shire’s shares rose 3% recently. The shares hit the highest share level since Takeda first announced its interest in acquiring the company.

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