8th Jan 2016 06:45
LONDON (Alliance News) - Irish drugmaker Shire PLC is preparing to announce an agreed USD32.0 billion takeover of US peer Baxalta Inc as early as Monday, according to Reuters.
Citing sources familiar with the matter, Reuters said both parties are confident the tax concerns around Baxalta spin-out from Baxter International Inc will not impede the agreement, but are waiting for a formal legal opinion on the matter before announcing the merger.
The talks between the two had hinged on how much cash Shire would be able to offer as part of a cash and shares takeover offer without triggering extra taxes for Baxalta.
http://uk.reuters.com/article/uk-baxalta-m-a-shire-idUKKBN0UL2EA20160107
By Sam Unsted; [email protected]; @SamUAtAlliance
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