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