Deals
Takeda Pushes Back as Group Seeks to Stop Shire Purchase
- Board meeting minutes should remain confidential, Weber says
- Dissident holders plan to sue to obtain details of board talks
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Takeda Pharmaceutical Co. Chief Executive Officer Christophe Weber pushed back against dissident shareholders seeking to stop the Japanese drugmaker’s acquisition of Shire Plc, saying he won’t release minutes of boardroom discussions.
A group including members of Takeda’s founding family opposes the planned $62 billion acquisition of the U.K.-listed biotech firm, which would rank as the biggest overseas takeover by a Japanese company. The investors plan to sue Takeda to obtain details of the board talks leading up to the May deal, trade publication DealReporter said last week.