Shire shareholders vote to approve combination with Baxalta

Combination would create the global leader in rare diseases.

Shire CEO, Flemming Ornskov, commented: “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. 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.”

Under the merger agreement, at closing Baxalta shareholders will receive $18.00 in cash and either 0.1482 Shire ADSs or 0.4446 Shire Ordinary shares per Baxalta share. The completion of the transaction remains subject to approval by Baxalta shareholders, with a vote scheduled to occur at 7:00 am CST today (27 May 2016), and other customary closing conditions. Shire expects the transaction will complete on 3 June. 2016.