Published November 24, 2015 3:55pm EST | Updated November 24, 2015 4:04pm EST

Baxalta Shares Rally On Report Of Renewed Shire Offer

Shares of Baxalta Inc. rallied Tuesday following a report that drug maker Shire PLC was preparing a new buyout offer for the biotech. Baxalta shares rose 5.9% to $35.49 after Reuters reported that Shire was renewing efforts to acquire Baxalta after the biotech recently turned down a $30 billion offer from Shire. U.S. shares of Shire declined 1.9% to $208.93.