Just read the following article in today's paper:
QUOTE
Baxalta accepts US$ 32b bid from Shire
Dublin-based pharmaceutical group Shire has agreed to buy US peer Baxalta for US$ 32 billion in a deal aimed at forming a global biotech giant targeting rare diseases. The agreed cash-and-share offer was an improvement on a previous hostile bid of US$ 3o billion that Baxalta rejected in August. The purchase of the Illinois-based group will boost Shire's position in the market for rare-disease treatments in the pharmaceutical sector, which is undergoing a rapid consolidation.
"This proposed combination allows us to realise our vision of building the leading biotechnology company focused on rare diseases", Shire chief executive Flemming Ornskov said in a statement. "Our expanded portfolio and presence in more than 100 countries will drive our growth to over US$ 20 billion in anticipated annual revenues by 2020," he added.
AFP
END OF QUOTE
Makes - JIMHO - for happy reading to any holder of NEU.
wasa
this should be relevant to NEU's valuation, I would think...
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Last
$20.17 |
Change
0.070(0.35%) |
Mkt cap ! $2.578B | |||
| Open | High | Low | Value | Volume |
| $20.39 | $20.53 | $20.14 | $4.102M | 202.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 249 | $20.15 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $20.31 | 790 | 1 |
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| NEU (ASX) Chart |