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