Deals
Takeda Hires Banks for Euro Bonds to Finance Shire Takeover
- Investor meetings said to start on Monday for four-part deal
- Analysts had forecast bond sales to replace M&A bridge loan
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Takeda Pharmaceutical Co. Ltd has picked banks to arrange a euro bond offering to finance its $62 billion acquisition of larger rival Shire Plc.
The Japanese drug maker will begin meeting European investors on Nov. 12 for a deal comprised of two-year, four-year, eight-year and 12-year notes, according to a person familiar with the matter, who asked not to be identified because the information is private. JPMorgan Chase & Co., SMBC Nikko Securities Inc., Morgan Stanley, Barclays Plc, BNP Paribas SA and HSBC Holdings Plc are arranging the deal. Earlier, Takeda said it was planning a euro bond sale.