Takeda takes control of Shire

Takeda Pharmaceutical has taken full control of Shire after the legal particulars of its cash and share offer were completed.

The issued share capital of Shire is now owned by Takeda after the scheme of arrangement to confirm the Japanese drugmaker's takeover was sanctioned by the Royal Court of Jersey and delivered to the registrar of companies in Jersey on Tuesday.

Shire shareholders on the register at 1800 GMT on 4 January will be entitled to receive $30.33 in cash and either 0.839 new Takeda shares or 1.678 Takeda American Depository Shares ADSs for each share held.

Shire shares are expected to become fully de-listed from the London Stock Exchange and Nasdaq on Wednesday, 9 January.

As the scheme has become effective, Shire directors have tendered their resignations, including chair Susan Kilsby, chief executive Flemming Ornskov, chief financial officer Thomas Dittrich and four other non-executive directors.

Ornskov will be retained by Shire in an advisory capacity to Takeda CEO Christophe Weber until the end of March, while Dittrich will provide a similar service to the company's CFO until 3 March.

Three non-executive directors, Olivier Bohuon, Ian Clark and Steven Gillis, were simultaneously appointed to the Takeda board.