U.S. Shareholder Seeks To Block Millennium Takeover By Japan’s Takeda
This article was originally published in PharmAsia News
Executive Summary
A shareholder of the U.S. biotech Millennium Pharmaceuticals has filed a suit to block a takeover by Takeda Pharmaceutical. The suit's backers are attempting to attract enough other shareholders to expand the suit to class action status. Their main complaint is the friendly takeover offer if $8.8 billion is below what the company is worth, even though the offer is the largest ever made by a Japanese drug maker for a foreign firm. The single suit was filled in Millennium's home state of Massachusetts. (Click here for more