Shire has made an unsolicited takeover bid of US$30 billion for biosciences company Baxalta, which was recently spun off from healthcare company Baxter International.
The offer was made public on Tuesday after the bid was turned down on July 10. Shire’s offer of US$45.23 a share is a 36% premium to Baxalta’s closing price on Monday.
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“Baxalta has declined to engage in substantive discussions regarding the proposal,” says a statement from Shire.
Shire says the combined company would be the global leader in rare diseases with multiple billion-dollar franchises in high-value therapeutic areas.
“Together, Baxalta and Shire are projected to deliver product sales of US$20 billion in 2020, advancing the combined pipeline and bringing innovative new therapies to market for patients with rare, often life-
threatening, diseases and conditions,” says Shire.
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