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Shire makes $30bn unsolicited bid for Baxalta


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Shire makes $30bn unsolicited bid for Baxalta

 

Date: 06/08/2015

Shire is making a hostile takeover approach for Baxalta just a month after the biotech was spun off from Baxter.

The proposed all-stock transaction would be worth approximately $30 billion. Shire believes it would create “the global leader in rare diseases with multiple billion-dollar franchises in high-value therapeutic areas with substantial barriers to entry.”

Baxalta’s management has so far declined to engage in substantive discussions regarding the proposal, which Shire says has “left us with no choice but to make our proposal known to [Baxalta’s] shareholders. We believe they deserve an opportunity to consider it”.

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source: PharmaTimes

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