As befits a deal in the medical industry, this one has been rather hard to swallow.
But on December 5th, eight months after Takeda, Japan's largest pharmaceutical firm,
said it was interested in buying Shire, an Irish-headquartered drugmaker of a similar size, shareholders at last voted to approve the acquisition.
The purchase will cost Takeda $56bn in cash and new shares. Since the initial news of the deal the firm's share price has fallen by 25%.
武田制药将以现金和新股票的方式以560亿美元价格收购该公司 。自关于该笔交易的最初新闻曝光以来，该公司股价下跌25% 。
Takeda's acquisition is unusual. It is by far the largest foreign buy-out ever executed by a Japanese firm
(even though the country's outbound merger-and-acquisition activity is surging).
Nor was Shire considered a likely target. Acquiring firms usually seek new technologies or overlaps that allow cost-cutting.
夏尔也并非被认为是最有可能的目标 。收购通常是瞄准了新的技术或是能够消减成本的重合 。
Shire does have a strong pipeline of new molecules, but the portfolio did not complement any large drugmakers' existing suite of drugs, including that of Takeda.
Powerful domestic pressures are encouraging Japanese drugmakers to look abroad.
An ageing population has put pressure on Japan's government-run healthcare system, which accounts for two-fifths of the country's drug spending.
The health ministry is hard at work promoting generic drugs and pushing down prices.
But few groups have taken as drastic action as 237-year-old Takeda, which in 2014 brought in as its leader a Frenchman, Christophe Weber.
但没有几个公司像武田制药这样采取了如此猛烈的行动，武田制药有237年的历史，2014年，法国人Christophe Weber加入公司任职CEO 。
He has noted that Japan's drugs market is only 7% of the global one, and that "if we want to be successful, we have to be successful outside of Japan".
A slim pipeline of new drugs and fiercer competition also boded ill for Takeda's revenues.
Slowing sales of Velcade, a cancer drug, were expected to wipe a fifth off its profits in the next few years.
The firm had only two new drugs with blockbuster potential in late-stage clinical trials.
Buying Shire does help there: the drugmaker earns two-thirds of its revenues in America and its portfolio of rare-disease drugs will bolster Takeda's revenues.
You are asked to swallow a capsule containing vitamin B
...the acquisition of a profitable paper recycling company.
Both companies were keen on a merger
We complement one another perfectly.