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Takeda receives important US approval for the purchase of Shire



TOKYO (Reuters) – Japanese Takeda Pharmaceutical Co Ltd has received important US approval on Tuesday for the $ 62 billion acquisition of London-listed Shire Plc.

Shire Branding can be seen in front of their offices in Dublin, Ireland on April 25, 2018. REUTERS / Clodagh Kilcoyne

Takeda has received unconditional approval from the US Federal Trade Commission for the Shire deal, the pharmaceutical company said.

The Shire deal would make Takeda one of the world's largest drug companies.

FILE PHOTO: The Takeda Pharmaceutical Co logo will be on display in Tokyo on July 2, 2018. REUTERS / Kim Kyung-Hoon / archival photo

The remaining hurdles for the Tokyo-listed company, however, are a regulatory nod from the European Union and China and approval from the shareholders of both drug companies.

Chief Executive Christophe Weber has been working to convince investors of the deal that has weighed heavily on Takeda's share price.

Takeda shares closed on Tuesday, while the statement was released after trading hours.

The deal is expected to be completed in the first half of 2019, Takeda said.

Reporting by Sam Nussey, adaptation by Sherry Jacob-Phillips


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