Shire Re-Opens Baxalta Takeover Talks

Shire is set to re-open its formal takeover talks Baxalta, reports The Independent.

Going public on its offer for Baxalta last week, Shire claimed the deal would create the world’s leading rare diseases specialist and generate $20bn in product sales by 2020.

Baxalta spurned initial advances, but The Independent reports that "Mr Ornskov and his chairman, Susan Kilsby, have spent the past few days crossing the Atlantic and meeting its rival’s shareholders, who are warming to the idea of a multibillion-dollar tie-up."

In order to re-open talks Shire needs to increase its offer beyond $30bn (£20bn).