INTERVIEW: Takeda CEO Confident of Shareholder Approval for Shire Deal

Economy

Tokyo, Nov. 15 (Jiji Press)--Christophe Weber, president and chief executive officer of Takeda Pharmaceutical Co. <4502>, has voiced confidence that a planned acquisition of Irish industry peer Shire PLC will be approved by the Japanese firm's shareholders.

Speaking at a recent interview with Jiji Press and others from New York via teleconference, Weber said that he is "very confident" that the acquisition will be approved at an extraordinary general shareholders meeting on Dec. 5.

In May, the Japanese drug maker announced a deal to acquire Shire.

Takeda will need to gain approval from at least two-thirds of participating shareholders in terms of voting rights for proposals, including those related to the issuance of new shares needed for the acquisition, submitted to the meeting.

With the acquisition expected to cost around 7 trillion yen, some shareholders, including former Takeda employees, have expressed opposition, saying that the deal is too pricey.

[Copyright The Jiji Press, Ltd.]

Jiji Press