23rd Dec 2015 06:45
LONDON (Alliance News) - Pharmaceuticals group Shire PLC has made a new bid for US peer Baxalta International Inc which is thought to be roughly in line with the latter's valuation expectations, increasing the likelihood of a deal being struck in the next couple of weeks, Reuters reported.
The agreement would close out Shire's five-month pursuit of Baxalta, the Illinois-based company which was only spun-out of US group Baxter International Inc earlier this year.
The exact terms of the deal could not be learned, but a source told Reuters that Shire has now added enough cash to its previous all-stock bid in order for the talks to advance.
http://uk.reuters.com/article/uk-shire-m-a-baxalta-idUKKBN0U521P20151222
The Sunday Times had reported that Shire is preparing to add a GBP8.0 billion cash sweetener to its bid to buy Baxalta. Citing senior City sources, the newspaper had said that up to 40% of the GBP20 billion offer could be comprised of cash.
By Sam Unsted; [email protected]; @SamUAtAlliance
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