Mergers and Acquisitions | 06 July 2018

It has been uncommon for Japanese companies to use their own stock as a form of acquisition consideration, mainly because the Companies Act in Japan has restrictions on these transactions. However, changes to the law will relax these restrictions and expand opportunities for Japanese companies to use their stock as acquisition consideration. Given that Takeda Pharmaceutical Co recently announced a plan to acquire Shire plc for cash and stock, it is a good time to consider the current and future environment for stock-for-stock transactions by Japanese companies. [Continue Reading]