Biopharmaceutical company TiGenix reported that the conditions for the €1.78 per share takeover bid by Japanese pharmaceutical company Takeda had been met with acceptance by 90.62% of security holders.
A second acceptance period for security holders in Belgium will commence on 20 June 2018 and in the US on 6 June 2018. Both will expire on 3 July 2018, subject to any extension.
Eduardo Bravo, CEO, said "We are very pleased with the successful result of the first acceptance period for the takeover bid from Takeda. We believe this is a positive step for TiGenix' security holders and reflects the true value of our dedication to patients over the last few years. TiGenix' expertise can help Takeda accelerate its ambition to develop novel stem cell therapies. As a patient-centric company, we are confident that Takeda has the best capabilities and resources to ensure access to these novel therapies for patients worldwide."
Following expiration of the second acceptance period, Takeda intends to launch a squeeze-out of remaining security holders.