Shire Proposes Hostile Bid To Buy Baxalta For $30 Billion

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.   Shire’s hostile bid to acquire Baxalta London-listed Shire PLC went public with its approach after Baxalta turned it down. The Dublin-based company said its unsolicited offer of 0.1687 Shire American depository receipts per share valued each Baxalta share at $45.23. The offer represents a premium of 36% based on Monday’s…