Pharmaceutical group Shire said it was seeking to buy Baxalta in a $30 billion all-share deal, going public with its bid to create a global specialist in rare diseases after the US firm spurned its initial approach.
Dublin-headquartered Shire said its unsolicited offer valued each Baxalta share at $45.23.
The Illinois-based firm has a pipeline focused on haematology and immunology, through technology platforms such as gene therapy and biosimilars.
The share offer, which marks a premium of 36% over Baxalta's stock price on 3 August, would give the US firm's shareholders about 37% of the combined group.
Shire's Chief Executive Flemming Ornskov said he had gone public with its plan, which it first proposed privately last month, after Baxalta's board declined to engage in substantive discussions.
"We believe the proposed combination of Shire and Baxalta would be strategically and financially attractive for both of our companies, accelerating our respective growth ambitions and creating the leading global biotech company in rare diseases," he said.
"It is our strong preference to immediately enter into a negotiated transaction to explore the full potential of the proposed combination and finalise the terms of an agreement."
