Thursday 29 September 2016

Shire in advanced talks for €32bn takeover

Published 04/01/2016 | 02:30

The Dublin headquarters of drug-maker Shire Photo: Bloomberg
The Dublin headquarters of drug-maker Shire Photo: Bloomberg

Ireland-based drug-maker Shire is in advanced talks to acquire smaller US rivals Baxalta for about $32bn (€29bn) in cash and stock, excluding debt, according to sources.

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The two drug-makers may announce a deal as soon as this week, the source added, with the price being discussed is $46.50 to $48 a share.

Final details of the transaction are still being negotiated and the timing and structure of any offer may change, however.

In July, Baxalta rebuffed an unsolicited $30 billion all-stock bid from Shire that valued the company at $45.23 a share.

The company has been seeking a higher offer that includes cash, people familiar with the matter said last month. If a deal succeeds, the merged business would generate $20bn in annual sales by 2020, Shire has said.

Irish Independent

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