Takeda completes subsequent offer for Millennium; merger set to close Wednesday

By Lisa Kerner

Charlotte, N.C., May 14 - Takeda Pharmaceuticals, Inc. said it completed its subsequent $25-per-share tender offer for all outstanding shares of Millennium Pharmaceuticals, Inc. as planned on Tuesday.

A total of 295,628,495 shares, or 90.3%, of Millennium common stock has been tendered, Takeda said in a news release.

Takeda expected to effect a short-form merger on Wednesday, after which Millennium will become an indirect wholly owned subsidiary of the Osaka, Japan, research-based pharmaceutical company.

In addition, the common stock of Millennium, a Cambridge, Mass., biopharmaceutical company, will cease trading on the Nasdaq Global Select Market.

It was previously reported that Takeda agreed to acquire Millennium for some $8.8 billion and began the tender offer for the company on April 11.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.