OSAKA, Japan and NEW YORK, April 11 /PRNewswire-FirstCall/ -- TakedaPharmaceutical Company Limited ('Takeda', TSE: 4502) today announced thecommencement of its cash tender offer for all outstanding shares of the commonstock of Millennium Pharmaceuticals, Inc. ('Millennium', Nasdaq: MLNM) forUS$25.00 per share. The tender offer is being made by Mahogany AcquisitionCorp., a wholly owned subsidiary of Takeda America Holdings, Inc., which is awholly owned subsidiary of Takeda, pursuant to an Offer to Purchase, datedApril 11, 2008, and the Agreement and Plan of Merger (the 'Merger Agreement'),dated as of April 10, 2008, by and among Takeda America Holdings, Inc.,Mahogany Acquisition Corp., and Millennium. Takeda is also a party to theMerger Agreement for certain purposes.
The tender offer is scheduled to expire at 12:00 midnight (New York CityTime) at the end of Thursday, May 8, 2008, unless the tender offer isextended. Following the completion of the tender offer and, if required,receipt of approval by Millennium's stockholders, Takeda expects to consummatea merger of Mahogany Acquisition Corp. and Millennium in which shares ofMillennium that have not been purchased in the tender offer will be convertedinto the right to receive the same cash price per share as paid in the tenderoffer. The tender offer and the merger are subject to customary closingconditions, including the acquisition by Mahogany Acquisition Corp. in thetender offer of a majority of Millennium's outstanding shares on afully-diluted basis and the expiration or early termination of the waitingperiods under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, asamended, and certain specified foreign antitrust laws.
The Depositary for the tender offer is Computershare Trust Company, N.A.,the Dealer Manager for the tender offer is UBS Investment Bank, and theInformation Agent for the tender offer is The Altman Group.
About Takeda
Founded in 1781 and located in Osaka, Japan, Takeda (TSE: 4502) is aresearch-based global company with its main focus on pharmaceuticals. As thelargest pharmaceutical company in Japan and one of the global leaders of theindustry, Takeda is committed to striving toward better health for individualsand progress in medicine by developing superior pharmaceutical products.Additional information about Takeda is available through its corporatewebsite, http://www.takeda.com.
Forward-Looking Statements
This press release contains 'forward-looking statements' that involvesignificant risks and uncertainties.
