Shire Proposes Hostile Bid To Buy Baxalta For $30 BillionMani
Shire PLC revealed an unsolicited offer to buy American rival Baxalta in an all-stock deal worth about $30 billion, after its initial proposal to the company’s board was rebuffed.
Mirroring the latest announcement, Baxalta shares rose 17% to $38.80 in early trading, while Dublin-based Shire’s ADRs dropped 3.6% to $258.56.
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