Baxalta To Not Host Investor Conference And Update 2016 Guidance - Quick Facts

(RTTNews) - While reporting its fourth-quarter financial results today, Baxalta Inc. (BXLT) said that due to its proposed merger agreement with Shire plc (SHPG, SHP.L) announced on January 11, 2016, going forward Baxalta will not be hosting an investor conference call to discuss financial results.

Further, the company said it will not update its financial guidance for full-year 2016. Previously-issued guidance for Baxalta as a standalone entity is no longer applicable.

In early January, Shire and Baxalta said that the boards of directors of both companies have reached an agreement for Shire to combine with Baxalta. Under the agreement, Baxalta shareholders will receive $18.00 in cash and 0.1482 Shire ADS per Baxalta share.

The transaction, which is subject to customary closing conditions including regulatory approvals in several jurisdictions and approval by both Baxalta's and Shire's shareholders, is expected to close mid-2016.