Baxalta Ready to Discuss Terms with Shire Plc

As soon as Baxalta (BXLT) was trading on its own after being spun off from Baxter International (BAX), it received a takeover offer from Shire Plc (SHPG). Baxalta rebuffed the intial offer, but months later it looks Baxalta is finally ready to discuss a deal with Shire.

From Stock Spinoffs.

Who says persistence doesn’t pay off? Months after having a buyout offer rejected and weeks afterreports of its continued interest in a deal, Shire (SHPG) has reportedly gotten recent Baxter International (BAX) spinoff Baxalta (BXLT) to sit down at the table for a little M&A pow-wow. Apparently the two are making progress on a deal which would include a higher price and some cash component – a key, but also tricky feature for the recent spinoff. The price tag will surely have to grow from its initial offer which was quickly rejected, especially as Baxalta has been on a roll of late, securing a number of FDA approvals in different areas. One advantage for Shire is that it’s corporate tax rate, courtesy of its Ireland HQ, is lower than Baxalta’s.


Baxalta Reportedly Finally Negotiating With Shire On Sale (Stock Spinoffs)