On its path to acquiring Ireland-domiciled, London-listed drugmaker Shire, Japan’s Takeda Pharmaceutical has received unconditional clearance from the US Federal Trade Commission. The £46 billion deal was greenlighted by both companies’ boards in May – ending a battle that saw the Japanese drugmaker bid for Shire five times since late March 2018.

The transaction is set to complete in the first half of 2019, following all approvals. It must still take regulatory hurdles in the EU and China and receive the go-ahead from the two firms’ shareholders. Takeda is offering $64.83 per share – $30.33 in cash and 0.839 of a Takeda share for each Shire share.

With a successful conclusion, the Osaka-headquartered, Tokyo-listed company would move up several notches in global rankings and become the world's eighth-largest drugmaker, with combined sales of around $30 billion.

The newly combined company, to trade as Takeda, is planned to be headquartered in Japan with major regional locations in Singapore, Switzerland and the US.  It would be listed on the Tokyo stock exchange, in place of the current Takeda. As the only drugmaker listed in both Japan and the US, the company would have access to two of the world’s largest capital markets.