Shire’s $32 Billion Combination with Baxalta

On January 11, 2016, Shire plc and Baxalta Incorporated entered into an agreement to combine Shire and Baxalta. Under the agreement, Baxalta shareholders will receive approximately $45.57 per Baxalta share, consisting of $18.00 in cash and 0.1482 Shire American Depositary Share (ADS), for an aggregate consideration of approximately $32 billion. Cravath is representing Shire on tax matters in connection with this transaction.

The Cravath team includes partners Stephen L. Gordon and Lauren Angelilli, Of Counsel Michael L. Schler and associate Arvind Ravichandran on tax matters.