DJ Newly Born Baxalta Gets $30B Approach From Shire -- Market Talk
7:54 EDT - Baxalta (BXLT) has only been public 5 weeks and the drug maker has already gotten a suitor as Shire (SHPG) makes public a $30B all-stock acquisition which values the Baxter (BAX) spinoff at a 36% premium to yesterday's close. It's the latest offer in what's been a wild-and-crazy 2015 from drug M&A, which followed a quite-busy 2014. SHPG says the combined company would have multiple billion-dollar sellers in the rare-disease space. No surprise that BXLT has for now put off the approach--as has repeatedly occured as desired drug makers have played hard to get amid an effort to boost the takeout price. And that strategy has proved successful time and again. BLXT is up 24% premarket at $41 while SHPG falls some 5.5% in London.