BN 08/04 11:39 Shire Makes Unsolicited Bid to Acquire Baxalta for $30 Billion
BFW 08/04 11:34 Shire Proposes Baxalta Combination; Implied Value $45.23/Shr
PRN 08/04 11:30 Shire Proposes Combination With Baxalta to Create the Leading Global Biotech Company Focused on Rare Diseases
BN 08/04 11:34 *SHIRE WOULD SEE $20B COMBINED PRODUCT SALES BY 2020 POST MERGER
BN 08/04 11:34 *SHIRE SAYS HASN'T DISCUSSED THIS PROPOSAL WITH BAXTER
BN 08/04 11:34 *SHIRE: TAX-FREE MOVE OF BAXALTA/BAXTER SPLIT WON'T BE AFFECTED
BN 08/04 11:33 *SHIRE SEES DEAL ADDING AFTER YR 1, SUPPORTED BY A SHARE BUYBACK
BN 08/04 11:32 *SHIRE PLANS BUY BACK UP TO 13% COMBINED POST DEAL SHRS W/ DEAL
BN 08/04 11:32 *SHIRE SEES DEAL ACCRETIVE ADJ. EARNINGS; BREAKEVEN IN YEAR ONE
BN 08/04 11:32 *SHIRE URGES BAXALTA TO ENGAGE IN A NEGOTIATED TRANSACTION
BN 08/04 11:32 *SHIRE PROPOSAL STRUCTURED AS ALL-STOCK DEAL
BN 08/04 11:32 *BAXALTA HOLDERS WOULD OWN ABOUT 37% OF COMBINED SHIRE GROUP
BN 08/04 11:32 *SHIRE SAYS BAXALTA HAS DECLINED TO ENGAGE IN TALKS
BN 08/04 11:31 *SHIRE WOULD INITIATE BUYBACK UP TO 13% COMBINED POST-DEAL SHRS
BN 08/04 11:31 *BAXALTA HAS DECLINED TO ENGAGE IN SUBSTANTIVE TALKS
BN 08/04 11:31 *SHIRE OFFERS TO BUY BAXALTA FOR ABOUT $45.23 PER SHR
BN 08/04 11:31 *SHIRE: PROPOSAL REFLECTS PREMIUM 36% VS BAXALTA'S AUG. 3 PRICE
BN 08/04 11:31 *SHIRE: OFFERS FOR EACH BAXALTA SHR 0.1687 SHIRE ADS
BN 08/04 11:31 *SHIRE MAKES PROPOSAL TO BAXALTA FOR IMPLIED VALUE $45.23/SHR
BN 08/04 11:30 *SHIRE COMBINATION OFFERS OPERATING SYNERGY POTENTIAL
BN 08/04 11:30 *SHIRE ALL-STOCK TRANSACTION OF ABOUT $30B
BN 08/04 11:30 *SHIRE PROPOSES COMBINATION W/ BAXALTA TO CREATE LEADING GLOBAL
BFW 08/04 11:34 Shire Proposes Baxalta Combination; Implied Value $45.23/Shr
PRN 08/04 11:30 Shire Proposes Combination With Baxalta to Create the Leading Global Biotech Company Focused on Rare Diseases
BN 08/04 11:34 *SHIRE WOULD SEE $20B COMBINED PRODUCT SALES BY 2020 POST MERGER
BN 08/04 11:34 *SHIRE SAYS HASN'T DISCUSSED THIS PROPOSAL WITH BAXTER
BN 08/04 11:34 *SHIRE: TAX-FREE MOVE OF BAXALTA/BAXTER SPLIT WON'T BE AFFECTED
BN 08/04 11:33 *SHIRE SEES DEAL ADDING AFTER YR 1, SUPPORTED BY A SHARE BUYBACK
BN 08/04 11:32 *SHIRE PLANS BUY BACK UP TO 13% COMBINED POST DEAL SHRS W/ DEAL
BN 08/04 11:32 *SHIRE SEES DEAL ACCRETIVE ADJ. EARNINGS; BREAKEVEN IN YEAR ONE
BN 08/04 11:32 *SHIRE URGES BAXALTA TO ENGAGE IN A NEGOTIATED TRANSACTION
BN 08/04 11:32 *SHIRE PROPOSAL STRUCTURED AS ALL-STOCK DEAL
BN 08/04 11:32 *BAXALTA HOLDERS WOULD OWN ABOUT 37% OF COMBINED SHIRE GROUP
BN 08/04 11:32 *SHIRE SAYS BAXALTA HAS DECLINED TO ENGAGE IN TALKS
BN 08/04 11:31 *SHIRE WOULD INITIATE BUYBACK UP TO 13% COMBINED POST-DEAL SHRS
BN 08/04 11:31 *BAXALTA HAS DECLINED TO ENGAGE IN SUBSTANTIVE TALKS
BN 08/04 11:31 *SHIRE OFFERS TO BUY BAXALTA FOR ABOUT $45.23 PER SHR
BN 08/04 11:31 *SHIRE: PROPOSAL REFLECTS PREMIUM 36% VS BAXALTA'S AUG. 3 PRICE
BN 08/04 11:31 *SHIRE: OFFERS FOR EACH BAXALTA SHR 0.1687 SHIRE ADS
BN 08/04 11:31 *SHIRE MAKES PROPOSAL TO BAXALTA FOR IMPLIED VALUE $45.23/SHR
BN 08/04 11:30 *SHIRE COMBINATION OFFERS OPERATING SYNERGY POTENTIAL
BN 08/04 11:30 *SHIRE ALL-STOCK TRANSACTION OF ABOUT $30B
BN 08/04 11:30 *SHIRE PROPOSES COMBINATION W/ BAXALTA TO CREATE LEADING GLOBAL
MORE: Shire Says Baxalta Declined to Engage in Substantive Talks
2015-08-04 11:39:23.801 GMT
By Gaurav Panchal
(Bloomberg) -- Says Baxalta has declined to engage in
substantive discussions regarding the proposal of 0.1687 Shire
ADRs per share leading to an all-stock deal of ~$30b.
* Says transaction is expected to generate double-digit top-
line growth; strong returns and attractive value creation;
breakeven to Non GAAP EPS in year one with accretion
thereafter
* Baxalta and Shire are projected to deliver product sales
of $20b in 2020
* Says deal offers significant operating synergy potential and
a compelling tax profile (projected 16%-17% combined non
GAAP effective tax rate by 2017), IRR in excess of 10%
* Buyback:
* Promptly after deal close, Shire would start buy-back
program to repurchase, within two years, up to 13% of
combined post-transaction shares out
* This will enhance earnings accretion of the
transaction while maintaining financial flexibility
and an investment-grade credit profile
* Proposed deal structured as an all-stock transaction to
maintain tax-free nature of Baxalta’s July 1, spinoff from
Baxter
* Baxalta shareholders would own approximately 37% of the
combined Shire group
* Baxalta rises 30% in pre-market trading
* Statement:Link
Link to Company News:{BXLT US <Equity> CN <GO>}
Link to Company News:{SHP LN <Equity> CN <GO>}
For Related News and Information:
First Word scrolling panel: {FIRST<GO>}
First Word newswire: {NH BFW<GO>}
To contact the reporter on this story:
Gaurav Panchal in London at +44-20-3525-0511 or
gpanchal2@bloomberg.net
To contact the editor responsible for this story:
Tim Barwell at +44-20-3525-3512 or
tbarwell@bloomberg.net
2015-08-04 11:39:23.801 GMT
By Gaurav Panchal
(Bloomberg) -- Says Baxalta has declined to engage in
substantive discussions regarding the proposal of 0.1687 Shire
ADRs per share leading to an all-stock deal of ~$30b.
* Says transaction is expected to generate double-digit top-
line growth; strong returns and attractive value creation;
breakeven to Non GAAP EPS in year one with accretion
thereafter
* Baxalta and Shire are projected to deliver product sales
of $20b in 2020
* Says deal offers significant operating synergy potential and
a compelling tax profile (projected 16%-17% combined non
GAAP effective tax rate by 2017), IRR in excess of 10%
* Buyback:
* Promptly after deal close, Shire would start buy-back
program to repurchase, within two years, up to 13% of
combined post-transaction shares out
* This will enhance earnings accretion of the
transaction while maintaining financial flexibility
and an investment-grade credit profile
* Proposed deal structured as an all-stock transaction to
maintain tax-free nature of Baxalta’s July 1, spinoff from
Baxter
* Baxalta shareholders would own approximately 37% of the
combined Shire group
* Baxalta rises 30% in pre-market trading
* Statement:Link
Link to Company News:{BXLT US <Equity> CN <GO>}
Link to Company News:{SHP LN <Equity> CN <GO>}
For Related News and Information:
First Word scrolling panel: {FIRST<GO>}
First Word newswire: {NH BFW<GO>}
To contact the reporter on this story:
Gaurav Panchal in London at +44-20-3525-0511 or
gpanchal2@bloomberg.net
To contact the editor responsible for this story:
Tim Barwell at +44-20-3525-3512 or
tbarwell@bloomberg.net