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Takeda to Acquire Millennium for US$25.00 Per Share in an All Cash Tender Offer Valued at $8.8 Billion
Date:4/9/2008

- Acquisition Accelerates Takeda's Vision of Becoming a Global Leader in

Oncology -

OSAKA, Japan, and CAMBRIDGE, Mass., April 10 /PRNewswire-FirstCall/ -- Takeda Pharmaceutical Company Limited ("Takeda", TSE: 4502) and Millennium Pharmaceuticals, Inc. (Nasdaq: MLNM) today announced that they have entered into a definitive agreement pursuant to which Takeda will acquire Millennium for approximately $8.8 billion through a cash tender offer of $25.00 per share. The transaction was unanimously approved by the Boards of Directors of both companies. Upon completion of the acquisition, Millennium will become a wholly-owned subsidiary of Takeda Pharmaceutical Company Limited, and will continue operations in Cambridge, Massachusetts, as a standalone business unit. Millennium will be known as Millennium Pharmaceuticals, Inc., a Takeda Company.

(Logo: http://www.newscom.com/cgi-bin/prnh/19991220/MLNMLOGO )

Millennium is a leading biopharmaceutical company. In the United States, Millennium markets VELCADE(R) (bortezomib) for Injection-a novel, market- leading oncology product approved in more than 85 countries. Millennium has an innovation-driven discovery and development organization, which is advancing a pipeline of novel product candidates in oncology and inflammation. This includes a potential therapy for inflammatory bowel disease (IBD), which is expected to enter Phase III clinical trials in late 2008/early 2009. Millennium reported total revenues of approximately $528 million for 2007.

The acquisition of Millennium accelerates Takeda's vision of becoming a global leader in oncology with critical mass in
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SOURCE Millennium Pharmaceuticals, Inc.
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