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Shire $32 billion acquisition of Baxalta

23/9/2016
Acquisition finance, Public acquisition
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$ 32 billion

Completed

23/9/2016

Overview:

  • Ireland-headquartered pharmaceutical company Shire has completed its $32 billion acquisition of Baxalta.
  • The new company employs people across a span of 100 different countries. 
  • Part of the financing for the deal came from a $12.1 billion bond offering by Shire, the company's inaugural bond offering.
  • The offering consisted of $3.3 billion 1.9% notes due 2019, $3.3 billion 2.4% notes due 2021, $2.5 billion 2.875% notes due 2023 and $3 billion 3.2% notes due 2026. 
  • The underwriters for the offering were led by Barclays, BofA Merrill Lynch and Morgan Stanley.
  • Goldman Sachs acted as financial adviser for Baxalta on the acquisition. 
  • The acquisition was first announced in January 2016. 
  • The merger was completed in June 2016, while the debt offering was made the following September. 

Kurt Stumpo - Journalist

Jurisdictions:

United States
Ireland

Deal types:

Acquisition finance
Public acquisition

Practice areas:

Capital markets : Debt
M&A

Industry sector:

Pharmaceuticals and life sciences

Firms:
Arthur Cox

Party: Shire (Issuer)

Lawyers: Phil Cody, Stephen Hegarty (retired)

Cravath Swaine & Moore

Party: Barclays (Underwriter)

Party: BofA Merrill Lynch (Underwriter)

Party: Morgan Stanley (Underwriter)

Lawyer: Craig Arcella

Davis Polk & Wardwell

Party: Shire (Issuer)

Lawyer: John B Meade

Fried Frank Harris Shriver & Jacobson

Party: Goldman Sachs (Financial adviser)

Lawyer: Philip Richter

Kirkland & Ellis

Party: Baxalta (Target)

Lawyers: Daniel Wolf, Michael Brueck

Mourant Ozannes

Party: Shire (Acquirer, Issuer)

Lawyer: Robert Hickling

Ropes & Gray

Party: Shire (Acquirer)

Lawyers: Christopher Comeau, Paul Kinsella

Slaughter and May

Party: Shire (Acquirer, Issuer)

Lawyers: Azadeh Nassiri, Matthew Tobin, Oliver Wicker

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