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Takeda acquires 90.83% of TiGenix; takeover to proceed

Japan's Takeda Pharmaceutical Co. Ltd. now owns 90.83% of voting rights in TiGenix NV after closing of the first acceptance period in its public takeover bid.

Stockholders of the Belgian biopharmaceutical company tendered 256,657,251 shares and 11,941,130 warrants. Takeda said payment for these securities will start June 8.

A second acceptance period for TiGenix shareholders in the U.S. and Belgium starts June 6 and June 20, respectively. Stockholders can tender their securities until July 3, after which Takeda will launch a simplified squeeze-out.

After TiGenix is fully acquired by the company, its ordinary and American depositary shares will be delisted from Euronext Brussels and the Nasdaq Global Select Market, respectively.

Meanwhile, Takeda expects to close its £46 billion acquisition of Dublin's Shire PLC in the first half of 2019.