Japan's Takeda pays $8.8 billion for Millennium

Takeda's purchase of US oncology firm Millennium represents Japan's largest outbound pharmaceuticals acquisition, but shareholders and analysts are questioning the offer price.

JapanÆs Takeda Pharmaceutical will buy Nasdaq-traded Millennium Pharmaceuticals for $8.8 billion. Takeda is offering shareholders of Millennium $25 a share to buy 100% of the outstanding equity, a more than 50% premium to the price at which Millennium traded on Wednesday, April 9.

Millennium is expected to become TakedaÆs centre for oncology worldwide and will continue to operate in Massachusetts, as a standalone business unit.

Millennium is a biopharmaceutical company with sales of approximately $528 million in 2007. One of...

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