Japan's Takeda Agrees to Buy Shire for 46 B. Pounds
Tokyo, May 8 (Jiji Press)--Takeda Pharmaceutical Co. <4502> said Tuesday that it has agreed to acquire Irish industry peer Shire PLC for 46 billion pounds, the biggest overseas corporate acquisition by a Japanese company.
Takeda plans to buy all ordinary shares in Shire.
The deal, worth 6.8 trillion yen, surpasses Softbank Group Corp.'s <9984> 24-billion-pound buyout of British chip technology company ARM Holdings PLC.
Shire, a leading company for drugs to treat rare diseases, has a market capitalization much larger than that of Takeda. With the acquisition, Takeda will join the top 10 drug makers in the world.
Takeda hopes to expand its corporate size to catch up with global rivals and strengthen its lineup of potential new drugs.
[Copyright The Jiji Press, Ltd.]