Tags: Shire | Baxter | drug | Baxalta

Shire Offers to Buy Baxter Drug Spinoff for $30 Billion

Tuesday, 04 Aug 2015 08:39 AM

Irish drugmaker Shire PLC Is offering to buy Baxalta Inc. for about $30 billion in stock in a move to solidify its position in rare disease treatments.

Deerfield, Illinois-based Baxalta was spun off of Baxter International Inc. in July and focuses on bleeding disorders. Dublin-based Shire makes treatments for a range of conditions including attention deficit hyperactivity disorder, epilepsy and hunter syndrome.

In a statement, Shire urged Baxalta to engage in negotiations. It made the offer to the company on July 10 and said the offer implies a value of $45.23 per share, a 36 percent premium for Baxalta.

Shares of Baxalta rose more than 20 percent to $40.10 in premarketing trading. Shire's stock fell nearly 3 percent to $260.92.

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Irish drugmaker Shire PLC Is offering to buy Baxalta Inc. for about $30 billion in stock in a move to solidify its position in rare disease treatments.Deerfield, Illinois-based Baxalta was spun off of Baxter International Inc. in July and focuses on bleeding disorders....
Shire, Baxter, drug, Baxalta
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2015-39-04
Tuesday, 04 Aug 2015 08:39 AM
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