Here’s what you should know:
1. A group of shareholders wanted Takeda to put all major acquisitions to a vote, seeking to block the company’s $62 billion Shire acquisition.
2. The 130 shareholders who crafted the proposal said they did not expect it to pass at the annual meeting. They are now working to persuade shareholders to vote against a proposal to issue new stock to fund the Shire deal.
3. Since announcing the Shire bid in March, Takeda’s stock has fallen 18 percent. Shareholders continue to be concerned about the move that would make Taekda the world’s most indebted drugmaker.
4. Stock market analysts are also taking a wait-and-see approach with the company. UBS did upgrade Takeda’s stock from “neutral” to “buy,” but said a survey of 60 Japanese investors found 31 percent viewed the Shire deal negatively.
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