Slaughter and May advised Shire - US$32 billion combination with Baxalta

Slaughter and May advised Shire plc in relation to its combination with Baxalta Incorporated. The combination has created a leading global biotechnology company focused on serving patients with rare diseases and other highly specialized conditions, projected to deliver double-digit top-line growth with over US$20 billion in annual revenues by 2020.

The transaction closed on 3 June 2016 after antitrust clearances were obtained from the European Commission and the competition authorities in the United States, Japan, Russia, Taiwan, Turkey and Jersey.

Baxalta shareholders received a combination of cash and Shire equity securities, representing an aggregate consideration of approximately $32 billion.

Ropes & Gray and Cravath, Swaine, & Moore also advised Shire. Kirkland & Ellis acted as transaction counsel and Jones Day acted as regulatory counsel to Baxalta.