A group of Takeda shareholders is working to block the $62bn (£46.4bn) acquisition of Shire, news agency Reuters reported today.

Japanese drug company Takeda is holding a shareholder meeting later this year to approve an issue of new stock to help fund the deal for London-listed Shire.

Read more: Pharma giant Takeda enters into $7.5bn loan to fund Shire takeover

A 130 member group of ex-Takeda employees holds one per cent of the companys shares but hopes to rally the one third of shareholders it will need to block the issuance.

Last year the same group tried to stop the appointment of outgoing chair Yasuchika Hasegawa to an advisory position at the company.

Its proposal was defeated at the companys annual general meeting (AGM) but it did gain 30.5 per cent of the vote.

Read more: Disgruntled Takeda investors attack 'high risk' Shire deal

It has also put forward a proposal at this months AGM arguing that deals worth more than one trillion yen should be put to a shareholder vote.

Shares at Takeda have fallen more than 20 percent since it first said it was considering bidding for Shire.