Shire Agrees To Acquire Baxalta In $32 Billion Deal

By Ciara LinnaneMarketWatch Pulse

Shire Plc said Monday it has agreed to buy Baxalta inc. in a deal valued at about $32 billion. Shire will pay $18 in cash and 0.1482 of its American Depositary Shares per Baxalta share, representing a premium of 37.5% over Baxalta's share price on Aug. 3, 2015, when Shire first made an offer for the company. The deal is expected to close by mid-2016 and to give Baxalta shareholders a 34% stake in the new company. "This proposed combination allows us to realize our vision of building the leading biotechnology company focused on rare diseases," Shire Chief Executive Flemming Ornskov said in a statement. Baxalta shares rose 2.5% premarket, while Shire shares were up 0.4%.

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