UPDATE: Shire to Finally Control Baxalta in a €30 Billion Deal?

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shire_baxalta_pharma_acquisitionJust Few months ago, Shire unveiled its intention to totally buy Baxalta, the biotech arm (and recent spin out) from Baxter.  Its persistence may finally be paying off. In fact, Shire  is in advanced talks to acquire Baxalta for almost €30Bn. At last!

Baxalta is a global biopharmaceutical leader from the US in developing, manufacturing and commercializing transformative therapies. Its focus fields span orphan and undeserved disease conditions in hematology, immunology and oncology, and Baxalta was originally spun-off from Baxter International in July.

Shire on the other hand is a pharma giant with a €26Bn market cap, which dominates the market in fields like Attention Deficity Hyperactivity Disorder (ADHD). Originally from Basingstoke (England), it also have bases in the US (Cambridge, MA and Pennsylvania). Now headquartered in Dublin (Ireland), in 2013 it announced their plans to reduce their UK presence to a minimum.

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The Ha’Penny Bridge in Dublin, Ireland (CC 2.0: Flickr / LenDog64)

In July, Baxalta refused Shires’ advances for a $30 billion all-stock bid that valued the company at $45.23 a share. Ludwig Hantson, CEO of Baxalta, gently explained in a letter to Shire’s CEO Flemming Ornskov, that the buyout will never happen.

Yet now, according to Bloomberg, Shire is in takeover talks with Baxalta and is making progress toward a deal for about $32 billion. In this way, the price being discussed is $46.50 to $48 a share.

Is it the last approach?


UPDATE (14/01/16):

And the answer is yes! Shire has agreed to the $32Bn (€29.7Bn) takeover of Baxalta, by far making this the biggest deal ever for the Dublin-based drug maker.

You can read more on the deal from the CEO of Shire, Flemming Ornskov, who was interviewed by the Wall Street Journal.


Feature Image Credit: Trying to make the pieces fit… (Source: Public Domain)

 

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