Takeda Pharma Plans To Acquire TiGenix In EUR 520 Mln Deal

(RTTNews) - Takeda Pharmaceutical Company Limited (TKPYY.PK) said that it plans to acquire TiGenix NV (TIG). The Takeda agreement has the unanimous support of the TiGenix board of directors.

Through the potential voluntary public takeover bid, Takeda intends to acquire 100% of the securities with voting rights or giving access to voting rights of TiGenix not already owned by Takeda or its affiliates at an acquisition price of 1.78 euros per share in cash and an equivalent price per American Depositary Share, warrant and convertible bond, representing a transaction value of about 520 million euros on a fully diluted basis.

Takeda and TiGenix entered into an offer and support agreement confirming TiGenix's support and the terms and conditions of the bid set forth in this press release. Gri-Cel S.A., holding 32.24 million TiGenix shares, and its affiliate Grifols Worldwide Operations Ltd., holding 7.19 million TiGenix shares in the form of American Depositary Shares, have irrevocably confirmed that they will tender their shares and American Depositary Shares into the potential public takeover bid.

As the completion of the acquisition is expected to occur near the end of the first-quarter of CY2018 or the beginning of the second-quarter CY2018, Takeda expects minimal impact on its FY2017 earnings.