Wednesday 29 March 2017

Pharmaceutical group Shire is seeking to buy US firm Baxalta in a $30bn all-share deal

Shares in Shire were down 8pc
Shares in Shire were down 8pc

London-listed, Dublin headquartered pharmaceutical group Shire is seeking to buy US firm Baxalta in a $30bn all-share deal to create a global specialist in medicines treating rare diseases with sales of $20bn by 2020.

Shire went public with its proposal today after Baxalta rejected the approach.

Shire said it had offered to pay 0.1687 Shire ADR for each Baxalta share, implying a value of $45.23 per Baxalta share and a premium of 36pc over Baxalta's stock price as on August 3.

Shares in Shire were down 8pc on the news.

Reuters

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