 "Shire in talks to buy Baxalta for $32 mn")
Shire is in advanced talks to acquire Baxalta for $32 billion in cash and stock, excluding debt, according to people familiar with the matter.
The two drugmakers may announce a deal as soon as this week, the people said, asking not to be identified as the matter isn't public. The price being discussed is $46.50 to $48 a share, two of the people said. Final details of the transaction are still being negotiated and the timing and structure of any offer may change, they said. Representatives for Baxalta didn't immediately respond to requests for comment outside of regular business hours. A spokeswoman for Shire declined to comment.
In July, Baxalta rebuffed an unsolicited $30 billion all-stock bid from Shire that valued the company at $45.23 a share. The Deerfield, Illinois-based company has been seeking a higher offer that includes cash, people familiar with the matter said last month.
Shire has been focusing on acquiring companies with treatments for rare conditions, including the November purchase of Dyax Inc. for $5.9 billion and the $5 billion acquisition of NPS Pharmaceuticals Inc. in February. The Dublin-based drugmaker has been bulking up following AbbVie Inc.'s abandoned $52 billion buyout of the company last year.
The two drugmakers may announce a deal as soon as this week, the people said, asking not to be identified as the matter isn't public. The price being discussed is $46.50 to $48 a share, two of the people said. Final details of the transaction are still being negotiated and the timing and structure of any offer may change, they said. Representatives for Baxalta didn't immediately respond to requests for comment outside of regular business hours. A spokeswoman for Shire declined to comment.
In July, Baxalta rebuffed an unsolicited $30 billion all-stock bid from Shire that valued the company at $45.23 a share. The Deerfield, Illinois-based company has been seeking a higher offer that includes cash, people familiar with the matter said last month.
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If a deal succeeds, the enlarged company would generate $20 billion in sales by 2020, with as many as 30 new drugs to launch over five years for diseases ranging from dry eye disease to hemophilia, Shire has said.
Shire has been focusing on acquiring companies with treatments for rare conditions, including the November purchase of Dyax Inc. for $5.9 billion and the $5 billion acquisition of NPS Pharmaceuticals Inc. in February. The Dublin-based drugmaker has been bulking up following AbbVie Inc.'s abandoned $52 billion buyout of the company last year.