NewsHedge Alert: 11:39:16am Ticker: SHPG & BXLT
Alert Price: $196.95 (SHPG) Change: – 3.02% by market close
Catalyst: (rumor) Shire (SHPG) is reportedly in discussions to takeover Baxalta Inc., reported Bloomberg, citing people with knowledge of the matter.
According to the report, talks are progressing with Shire preparing a better offer that could include significant cash. The offer could come within the next few weeks. Baxalta had previous rejected a $30 billion all stock deal, Bloomberg noted.