Takeda Pharmaceutical Company has received unconditional clearance from the US Federal Trade Commission (FTC) for the company’s proposed $62-billion acquisition of Shire that was announced on May 8, 2018.

In May 2018, Takeda and Shire came to terms for a proposed acquisition of Shire by Takeda for approximately $62 billion. Takeda first disclosed an acquisition proposal for Shire in late March 2018, which was rejected by Shire, and subsequently made several revised proposals.

Takeda says the acquisition of Shire would provide complementary positions in gastroenterology and neuroscience and provide it with positions in rare diseases and plasma-derived therapies to complement its existing position in oncology.

The transaction has been approved by both companies’ Boards of Directors. The acquisition remains subject to a number of conditions, including receipt of other regulatory clearances and approval by the shareholders of both companies. The deal is expected to close in the first half of calendar year 2019. Upon the closing of the transaction, Takeda shareholders will own approximately 50% of the combined group.

Source: Takeda Pharmaceutical Company