Shire Makes a $30 Billion Unsolicited Takeover Offer For Baxalta

The London-listed pharmaceutical company Shire (LON:SHP) made a $30 billion unsolicited bid for the rare-disease biotech Baxalta (NYSE:BXLT).
According to the Wall Street Journal:

Dublin-based Shire PLC said Tuesday that it has made an unsolicited offer to acquire rare-disease treatment maker Baxalta Inc. for roughly $30.6 billion in stock, in the latest sign of drug makers’ strong appetite for deals.
Baxalta, based in Deerfield, Ill., rejected the proposal, saying it undervalued the company. Baxalta, which sells drugs for rare bleeding disorders and immune deficiencies, is just five weeks old as a public company after spinning off last month from Baxter International Inc., which remains its largest shareholder.

Click here to read the full article on the Wall Street Journal.