Takeda Pharmaceutical is considering selling up to $10bn in assets to cut debt from its prospective acquisition of Irish peer Shire. Upon the deal’s completion it would focus treatments on gastroenterology, oncology, rare diseases and three other fields. The company’s founding family is against the move, citing its negative effect on finances. In a statement released by the company, which has been under pressure since announcing plans for an initial public offering (IPO) last month, chief executive officer Masaru Iwata said that he was “deeply concern@@ CFO Costa Saroukos remained confident he would secure approval of the two-thirds of shareholders required for the stock issuance financing over half of the $62bn purchase. The rest will come from borrowing and corporate bonds, inflating Takeda's net interest-bearing debt to JPY5.4tn ($47.7bn).
Takeda Pharmaceutical is considering selling up to $10bn in assets to cut debt from its prospective acquisition of Irish peer Shire. Upon the deal’s completion it would focus treatments on gastroenterology, oncology, rare diseases and three other fields. The company’s founding family is against the move, citing its negative effect on finances. Takeda’s CFO Costa Saroukos remained confident he would secure approval of the two-thirds of shareholders required for the stock issuance financing over half of the $62bn purchase. The rest will come from borrowing and corporate bonds, inflating Takeda's net interest-bearing debt to JPY5.4tn ($47.7bn).