Shareholders of Shire plc recently held a general meeting to approve the proposals concerning Shire's combining with Baxalta Incorporated, developing a premium worldwide biotechnology company that serves patients with rare diseases and similar specialized conditions.
According to the merger, Baxalta shareholders will gain $18 in cash in addition to 0.446 Shire Ordinary shares -- or 0.1482 Shire ADSs -- for each Baxalta share.
These details and the final transaction are still subject to approval from the shareholders of Baxalta.
“We are pleased to take this important step toward completing our combination with Baxalta, and are grateful that our shareholders have voiced their support by approving this transaction,” Shire CEO Flemming Ornskov said. “The combination will allow us to realize our goal of building the leading global biotechnology company focused on rare diseases and other highly specialized conditions, offering greater opportunities for our patients, healthcare partners and employees. As our teams continue to plan our integration, we anticipate a smooth and timely transition for all of our stakeholders, and I am excited about what we will be able to achieve together for the benefit of our patients worldwide.”
