Ropes & Gray represents Shire in $32B deal with Baxalta
January 12, 2016
Ropes & Gray has announced it represented Shire in the biotech company’s agreement to combine with Baxalta. Under the agreement, Baxalta shareholders will receive $18 in cash and almost 0.15 Shire ADS per Baxalta share. Based on Shire’s closing ADS price on January 8, this implies a total current value of $45.57 per Baxalta share, representing an aggregate consideration of around $32 billion. The transaction is expected to close mid-2016.
Shire focuses on providing treatments in rare diseases, neuroscience, gastrointestinal and internal medicine. Baxalta is a global biopharmaceutical company that develops, manufactures and commercializes therapies for orphan diseases and conditions in hematology, oncology and immunology.