(AP) — Irish drugmaker Shire PLC Is offering to buy Baxalta Inc. for about $30 billion in stock in a move to solidify its position in rare disease treatments.
Deerfield, Illinois-based Baxalta was spun off of Baxter International Inc. in July and focuses on bleeding disorders. Dublin-based Shire makes treatments for a range of conditions including attention deficit hyperactivity disorder, epilepsy and hunter syndrome.
In a statement, Shire urged Baxalta to engage in negotiations. It made the offer to the company on July 10 and said the offer implies a value of $45.23 per share, a 36 percent premium for Baxalta. Shares of Baxalta rose more than 20 percent to $40.10 in pre-marketing trading. Shire’s stock fell nearly three percent to $260.92.
