After months of persistence, Shire has finally managed to strike a deal to acquire Baxalta in a $32bn cash-and-stock transaction. The fact that it has been able to bargain at this level, despite a sharp correction in share price since its first all-stock offer in August 2015 making the offer price less attractive, comes as something of a (pleasant) surprise. Interestingly, the 34% share that Baxalta’s shareholders will have in the combined entity is lower than the previous offer of 37%.
15 Jan 2016
Baxalta gives in
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Baxalta gives in
Shires Income PLC GBP (SHRS:LON) | 226 5.6 1.1% | Mkt Cap: 93.3m
- Published:
15 Jan 2016 -
Author:
Kamla Singh -
Pages:
3
After months of persistence, Shire has finally managed to strike a deal to acquire Baxalta in a $32bn cash-and-stock transaction. The fact that it has been able to bargain at this level, despite a sharp correction in share price since its first all-stock offer in August 2015 making the offer price less attractive, comes as something of a (pleasant) surprise. Interestingly, the 34% share that Baxalta’s shareholders will have in the combined entity is lower than the previous offer of 37%.