Takeda said Thursday that the Japan Fair Trade Commission unconditionally approved the company's proposed $62-billion acquisition of Shire. The deal has now received unconditional clearance from regulatory authorities in a number of markets including the US, China and Brazil.
The acquisition must still gain clearance in the EU, where antitrust regulators will make a ruling on the transaction by November 6. The deal also requires approval by the shareholders of both companies, with some Takeda investors questioning how the level of debt needed to fund the purchase will be repaid.
Takeda has previously indicated that it may divest certain assets, including Shire's eye-care business, after completing the purchase in a bid to reduce debt. Meanwhile, Takeda CEO Christophe Weber has conceded that large spending cuts would be required to ensure the deal remains viable without affecting innovation.
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