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Takeda clears key hurdle as investors back $59 billion Shire deal

Reuters  |  OSAKA 

By Takashi UmekawaOSAKA (Reuters) - Takeda Pharmaceutical has won shareholder approval for its $59 billion takeover of London-listed Shire, creating a global powerhouse that has a stronger drugs pipeline but is also saddled with massive debt.Takeda will be joining the ranks of the world's top 10 drugmakers and gaining expertise in rare diseases through the deal, the biggest overseas acquisition by a Japanese company.It will also become one of the most indebted. In addition to issuing new shares, the company has secured $30.9 billion in bank loans.The company's high debt levels were a top ...

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First Published: Wed, December 05 2018. 21:02 IST