Susan Kilsby, chairwoman of Shire, said the takeover of her company - which is best known as the maker of Adderall, a treatment for ADHD, but has become one of the world's biggest makers of medicines for rare diseases - is in the best interest of shareholders.
In particular, Shire would give Takeda access to research and development in fields the Japanese firm has long sought, including digestive systems, mental illness and rare diseases.
Takeda had raised its bids over a six-week chase and agreed on a 60% premium to Shire's closing price on March 27, before Takeda disclosed its interest.
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The families have said it is an "intimate affair" and have requested the media "to respect the family's need for privacy". Siddhanth Kapoor, Kirron Kher, Javed Akhtar, Kunal Rawal and Satish Kaushik were also present at the mehendi ceremony.
Christophe Weber, Takeda CEO, said: "Shire's highly complementary product portfolio and pipeline, as well as experienced employees, will accelerate our transformation for a stronger Takeda". Shire, on the other hand, earns about two-thirds of its product revenue from the US - a fact Takeda highlighted in its rationale for pursuing the biotech.
Although based in Ireland, Shire has most of its operations in Lexington and Cambridge and more than 3,000 workers in MA.
While the deal would boost Takeda's earnings potential, it also comes with risks.
If he gets past that hurdle Weber will then need to knit together a new top 10 - by sales - global pharma company while carving out $1.4 billion in cost synergies. Its net profit is about three times more than Takeda's. Shire's shares have soared 31 per cent, giving the company a market capitalisation of about US$50 billion.
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Takeda's board members have approved the details of the acquisition plan that the company will formally propose to Shire, according to sources.
Hattrell also represented Shire on its $5.2bn acquisition of USA company NPS Pharmaceuticals in 2015 and when it was the subject of an attempted takeover by USA drugmaker AbbVie in 2014.
In 2011 it took over Swiss rival Nycomed for 9.6 billion euros ($13.6 billion at the time). Last year, it purchased Ariad Pharmaceuticals, allowing them to further develop their oncology unit.
During this period, Shire sold its oncology business to France's Servier for $2.4 billion.
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Takeda said it would maintain its headquarters in Japan and would evaluate consolidating Shire's operations into Takeda's in the Boston area, in Switzerland and in Singapore.