The Traderszone Network

Published in TZ Latest News 10 August, 2015 by The TZ Newswire Staff

Shire steps up drive to get Baxalta talking after $30 billion bid

Shire (SHP.L) Chief Executive Flemming Ornskov is stepping up his campaign to get Baxalta (BXLT.N) to the negotiating table as he pushes the benefits a $30 billion takeover offer to the U.S. biotech company’s shareholders. Ornskov and Shire’s chairwoman Susan Kilsby, a former mergers and acquisition banker, met Baxalta investors on both sides of the Atlantic at the end of last week and will continue the charm offensive this week. Baxalta CEO Ludwig Hantson, meanwhile, reiterated his belief that the value of Shire’s offer was “wholly inadequate”.