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Takeda Successfully Completes Tender Offer for Millennium Pharmaceuticals, Inc. and Announces Subsequent Offering Period
Date:5/9/2008

OSAKA, Japan, and CAMBRIDGE, Mass., May 9 /PRNewswire-FirstCall/ -- Takeda Pharmaceutical Company Limited, "Takeda", (TSE: 4502) and Millennium Pharmaceuticals, Inc., "Millennium" (Nasdaq: MLNM) today announced the successful completion of Takeda's cash tender offer by its wholly-owned subsidiary, Mahogany Acquisition Corp., to acquire all outstanding shares of Millennium common stock for US$25.00 per share.

The initial offering period for the tender offer expired at 12:00 midnight, New York City Time, at the end of Thursday, May 8, 2008. The depositary for the tender offer has advised Takeda that, as of the expiration of the initial offering period, 300,871,367 shares of Millennium common stock have been tendered, representing approximately 91.9% of the outstanding shares of Millennium common stock (of which 26,917,513 shares, or approximately 8.2% of the outstanding shares, were tendered under guaranteed delivery procedures). All shares that were validly tendered and not withdrawn (excluding shares tendered under guaranteed delivery procedures) have been accepted for purchase, and Takeda will promptly pay for all such shares. Shares validly tendered in satisfaction of guaranteed delivery procedures will also be accepted for payment and promptly paid for.

Takeda also announced that it has commenced a subsequent offering period to acquire all of the remaining untendered shares. This subsequent offering period will expire at 12:00 midnight, New York City time, at the end of May 13, 2008, unless extended. During this subsequent offering period, holders of shares of Millennium common stock who did not previously tender their shares in the offer may do so and Takeda will promptly purchase any shares properly tendered as such sha
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