Dublin-based drugmaker Shire succeeds with $32bn Baxalta bid

Dublin-based drugmaker Shire has clinched its six-month pursuit of Baxalta International with an agreed $32 billion (€29.4bn) cash and stock offer, catapulting it to a leading position in treating rare diseases.

The Irish-domiciled and London-listed company, which first approached the US firm with an all-stock offer in July, won over the maker of treatments for rare blood conditions, cancers and immune system disorders after adding a cash sweetener.

Shareholders will receive $18 in cash and 0.1482 Shire American depositary shares per Baxalta share, implying a total value of $45.57 per share based on January 8 prices.