TOKYO (Reuters) – Japanese drugmaker Takeda Pharmaceutical Co Ltd <4502.T> faces demands from disgruntled shareholders to put to a vote its $62-billion (46.8 billion pound) acquisition of London-listed Shire <SHP.L> and do more to assuage concerns over the record-breaking deal.
The deal “carries overly high risks to the company”, 12 shareholders said in a proposal to be voted on at next month’s annual meeting of shareholders, adding that new shares to be issued to fund the deal threaten “a danger of causing a great disadvantage to existing shareholders”.
The Shire deal and any future deals worth more than 1 trillion yen (£7 billion) should be put to a shareholder vote, says the proposal, which will need half of the votes at the meeting to pass.
Takeda’s board of directors opposes the proposal, according to the company’s notice of convocation that contained the proposal.
The drugmaker already plans to put the Shire deal to a vote at an extraordinary general meeting.
(Reporting by Sam Nussey; Editing by Clarence Fernandez)