Shire In Advanced Talks To Buy Baxalta: Bloomberg

(RTTNews) - Dublin-based Shire Plc. (SHPG, SHP.L) is in advanced talks to acquire Baxalta Inc. (BXLT) for about $32 billion in cash and stock, excluding debt, the Bloomberg reported, citing people familiar with the matter. The two drug makers may announce a deal as soon as this week, the report stated.

The price being discussed is $46.50 to $48 per share, the report added and the final details of the transaction are still being negotiated and the timing and structure of any offer may change.

Representatives for Baxalta didn't immediately respond to requests for comment outside of regular business hours. A spokeswoman for Shire declined to comment.

In August, Baxalta rejected an unsolicited $30 billion takeover bid from Ireland-based pharmaceutical company Shire, saying that its board of directors determined the offer is not in the best interests of Baxalta or its shareholders.

Under the offer, Baxalta shareholders would receive 0.1687 Shire ADRs for each Baxalta share. The proposal implies a value of $45.23 per Baxalta share and represents a 36 percent premium over Baxalta's stock price as of August 3, 2015.

In November, Shire agreed to buy U.S. biotechnology firm Dyax Corp. (DYAX) for $37.30 in cash per Dyax share, for aggregate upfront consideration of about $5.9 billion.