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Business deals

Takeda to issue 770 million shares for Shire acquisition

Deal will help make drugmaker a global biopharmaceutical player, CEO says

Christophe Weber, CEO of Takeda Pharmaceutical, describes his company's path to becoming a global biopharmaceutical maker, at a news conference in Tokyo on Jan. 7. (Photo by Akihide Anzai)

TOKYO -- Takeda Pharmaceutical announced on Monday it will issue approximately 770.3 million new shares as compensation for the acquisition of its Irish peer Shire. Takeda's shares will double from their current number, enabling the Japanese company to obtain all Shire shares held by shareholders, combined with newly issued stock and cash.

Takeda called a press conference in Tokyo one day ahead of the planned completion of its purchase of Irish drug maker Shire, which will create the world's eighth largest pharmaceutical giant. In an upbeat speech, President and CEO Christophe Weber said Takeda aims to become "a leading company in biopharmaceuticals."

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