Rise and shine, everyone, the middle of the week is here. You made it this far, so why not forge ahead, yes? Despite a wintry chill, we are doing our best with the help of some cups of stimulation — we are quaffing hazelnut this morning — and invite you to join us. After all, a prescription is not required, so go ahead and indulge. Meanwhile, we have assembled the latest menu of tidbits to get you started on another busy day. Hope all goes well and you conquer the world. Cheers …
Takeda Pharmaceutical (TKPYY) shareholders voted in favor of a deal to buy Shire (SHPG), crushing an opposition campaign that sought to derail the biggest overseas acquisition by a Japanese company, the Wall Street Journal tells us. At least 88 percent of votes cast were in favor, dealing a blow to a group of longtime shareholders who had lobbied to block the cash-and-stock merger, valued at about $58 billion today. The dissidents argued Takeda was overpaying for Shire and piling on too much debt to do so.
It’s a risky investment for Takeda. From the time of their first announcement about the Shire acquisition in March, Takeda shares have been falling down and have dropped 20% so far.
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