Shire makes $5.9 billion-plus bid to acquire Dyax Corp

2 November 2015

Acquisitive Ireland-headquartered Shire (LSE: SHP) revealed this morning that it will acquire USA-based Dyax Corp (Nasdaq: DYAX) for $37.30 in cash per Dyax share, for aggregate upfront consideration of approximately $5.9 billion. This represents a 35.5% premium to Dyax' closing stock price on Friday.

Dyax shareholders may receive additional value through a non-tradable contingent value right (CVR) that will pay $4.00 in cash per Dyax share upon approval of DX-2930 in hereditary angioedema (HAE), representing a potential additional $646 million in aggregate contingent consideration. The transaction has been unanimously approved by the boards of directors of both Shire and Dyax and is expected to close in the first half of 2016.

Fifth M&A deal for Shire this year

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