Here’s what you should know:
1. Shareholders argue the deal carries with it a great risk, that could “[cause] a great disadvantage to existing shareholders.”
2. Approximately 12 shareholders made a proposal that any deal worth more than 1 trillion yen, should be put to a shareholder vote. The acquisition would need 66 percent of the vote to pass.
3. Takeda’s board opposes the proposal, saying requiring such approval would make the company less competitive. That said, the board was planning to put the Shire deal to a vote regardless.
4. Takeda will need 66 percent of its shareholders and 75 percent of Shire’s shareholders to approve the deal for it to go through.
5. Investors have received the deal poorly. Takeda’s shares have decreased more than 25 percent since the deal was announced May 8.
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