Baxalta Inc. has received an unsolicited proposal from Dublin-based Shire plc to acquire all outstanding common shares of Baxalta in an all-stock transaction valued at $30.6 billion.
 
Baxalta noted that it received this same proposal privately on July 10, 2015. Baxalta’s board of directors, in consultation with its financial and legal advisors, reviewed the proposal and unanimously determined that it is not in the best interests of Baxalta or its shareholders.
 
“The Board today reaffirmed its conclusion that Shire’s proposal significantly undervalues Baxalta and its attractive prospects for growth and value creation, and that a merger at this time would be severely disruptive at this very early stage of Baxalta’s existence as a public company and presents a significant and real risk to value creation for our shareholders,” said Wayne T. Hockmeyer, Ph.D., Chairman of the Board of Baxalta.
 
Baxalta, recently spun off from Baxter’s BioScience business, has new headquarters in Bannockburn, IL with approximately $6 billion in global revenues to start. Its core strategic areas include successful portfolios in hematology and immunology. The company also just completed the acquisition of the ONCASPAR portfolio from Sigma-Tau Finanziaria for approximately $900 million.