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Shire makes $30bn offer for Baxalta | Shire makes $30bn offer for Baxalta |
(about 3 hours later) | |
Shire, which makes the Adderall XR amphetamine, said it is seeking to buy fellow drugmaker Baxalta for $30bn (£19.2bn). | Shire, which makes the Adderall XR amphetamine, said it is seeking to buy fellow drugmaker Baxalta for $30bn (£19.2bn). |
Dublin-based Shire revealed the move after its offer, made up of stock, was turned down by Baxalta. | Dublin-based Shire revealed the move after its offer, made up of stock, was turned down by Baxalta. |
Baxalta, based in Illinois, develops treatments for rare blood conditions, cancer and immune system illnesses. | Baxalta, based in Illinois, develops treatments for rare blood conditions, cancer and immune system illnesses. |
Last year Shire itself was the target of a failed $50bn billion takeover by rival AbbVie. | Last year Shire itself was the target of a failed $50bn billion takeover by rival AbbVie. |
Shire said its unsolicited offer of 0.1687 Shire American depositary receipts - a type of share certificate - per Baxalta share valued each share at $45.23. | |
Shares in Baxalta jumped 14% in afternoon trading to $37.83 in New York. | |
Shire's bid is one among a series of mergers among drug makers. | Shire's bid is one among a series of mergers among drug makers. |
Shire itself agreed on Monday to buy eye drug company Foresight Biotherapeutics for $300m. | Shire itself agreed on Monday to buy eye drug company Foresight Biotherapeutics for $300m. |
Other big Shire purchases include NPS Pharma for $5.2bn this year. | Other big Shire purchases include NPS Pharma for $5.2bn this year. |
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