Japanese drugmaker Takeda said today that it had received US regulatory approval for its planned $62bn (£47bn) takeover of London-listed Shire.
Takeda said it had received unconditional clearance from the United States Federal Trade Commission (FTC) for its deal with Shire.
In a statement Takeda said that the FTCs clearance was “another significant milestone in the transaction process”.
However, it warned that the transaction remains subject to a number of conditions, including receipt of other regulatory clearances and approval by shareholders of both companies.
A small but vocal group of Takedas shareholders has made their opposition to the deal clear
Last month the group, who hold one per cent of Takedas shares, was defeated at Takedas annual general meeting (AGM) in a vote on a proposal that would have required shareholders to be consulted when the company did large deals.
The group it is working to persuade the one third of shareholders needed to block another proposal in a later shareholder meeting that will act as a de facto vote on the Shire deal.
Takeda is holding a shareholder meeting later this year to approve an issue of new stock to help fund the deal for Shire.
The 130 member group of ex-Takeda employees hopes to rally the one third of shareholders it will need to block the issuance.
The board of Irish-headquartered Shire conditionally accepted an approach from Takeda at the fifth time of asking in May. If completed, the deal would be the largest overseas acquisition by a Japanese firm.
Shares at Takeda have fallen more than 20 percent since it first said it was considering bidding for Shire.