Takeda completes tender offer for Millennium Pharmaceuticals; subsequent offer to end May 13

By Lisa Kerner

Charlotte, N.C., May 9 - Takeda Pharmaceutical Co., Ltd. subsidiary Mahogany Acquisition Corp. completed the $25-per-share tender offer for all outstanding shares of Millennium Pharmaceuticals, Inc. common stock as planned on Thursday.

According to the depositary for the offer, 300,871,367 shares, or 91.9%, of Millennium common stock have been tendered, a Takeda news release said.

Takeda said it began a subsequent offering for the remaining shares that ends at midnight ET on Tuesday.

It was previously reported that Takeda agreed to acquire Millennium for some $8.8 billion and began the tender offer for the company on April 11.

Once the subsequent offering period is complete, Takeda plans to complete its acquisition of Millennium by means of a merger under Delaware law, according to the release.

Millennium will become an indirect wholly owned subsidiary of Takeda, and Millennium common stock will cease trading on the Nasdaq.

Millennium is a biopharmaceutical company located in Cambridge, Mass.

Takeda is a research-based pharmaceutical company located in Osaka, Japan.

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