World Economy

Shire Sweetens Offer to Baxalta

Shire Sweetens Offer to BaxaltaShire Sweetens Offer to Baxalta

Shire Plc is in takeover talks with Baxalta Inc. and is making progress toward a deal as the drugmaker seeks to expand in rare diseases and fend off larger competitors, according to people with knowledge of the matter, Bloomberg reported. Shire is preparing an improved offer that could include a significant cash component and that may come within the next several weeks, the people said, asking not to be identified because the deliberations are private. The drugmaker’s previous $30 billion all-stock proposal was rejected five months ago. Baxalta has been seeking a higher offer that includes cash, according to two of the people.